SLC Corp. has the following portfolio of securities acquired for trading purposes and accounted for using the FV-NI model. SLC Inc. prepares financial statements every quarter. At Sept 30, 2021, the end of the company’s third quarter, the following information was reported: Investment Cost Fair Value
SLC Corp. has the following portfolio of securities acquired for trading purposes and accounted for using the FV-NI model. SLC Inc. prepares financial statements every quarter. At Sept 30, 2021, the end of the company’s third quarter, the following information was reported: Investment Cost Fair Value
50,000 Common Shares – Seneca Inc. $215,000 $200,000
3,500
2,000 Common Shares – Algonquin Inc. $180,000 $179,000
Transactions that occurred in the fourth quarter:
Oct 8, 2021 The Seneca Shares were sold for $4.30 per share
Nov 16, 2021 3,000 common shares of Humber Inc. were purchased at $44.50 per share SLC Inc. pays a 1% commission on purchase and sales of all securities. At the end of the fourth quarter, on December 31, 2021, the fair value of the shares were as follows:
Investment Fair Value Loyalist Inc.
$106,000 Algonquin Inc. $203,000
Humber Inc. $122,000
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