Stoll Company's long-term available-for-sale portfolio at the start of this year consists of the following. Available-for-Sale Securities Cost Fair Value $ 494,000 Company A bonds Company B notes $ 530,800 159,470 152,000 Company C bonds 661,900 647,730 Stoll enters into the following transactions involving its available-for-sale debt securities this year. January 29 Sold one-half of the Company B notes for $78,810. July 6 Purchased Company X bonds for $124,000. November 13 Purchased Company Z notes for $267,100. December 9 Sold all of the Company A bonds for $517,200. Fair values at December 31 are B, $85,000; C, $604,500; X, $119,000; and Z, $279,000. Problem 15-3A (Algo) Part 3 3. What amount of gains or losses on transactions relating to long-term investments in available-for-sale debt securit does Stoll report on its income statement for this year? Loss Answer is not complete.
Stoll Company's long-term available-for-sale portfolio at the start of this year consists of the following. Available-for-Sale Securities Cost Fair Value $ 494,000 Company A bonds Company B notes $ 530,800 159,470 152,000 Company C bonds 661,900 647,730 Stoll enters into the following transactions involving its available-for-sale debt securities this year. January 29 Sold one-half of the Company B notes for $78,810. July 6 Purchased Company X bonds for $124,000. November 13 Purchased Company Z notes for $267,100. December 9 Sold all of the Company A bonds for $517,200. Fair values at December 31 are B, $85,000; C, $604,500; X, $119,000; and Z, $279,000. Problem 15-3A (Algo) Part 3 3. What amount of gains or losses on transactions relating to long-term investments in available-for-sale debt securit does Stoll report on its income statement for this year? Loss Answer is not complete.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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![Required information
Problem 15-3A (Algo) Debt investments in available-for-sale securities; unrealized and
realized gains and losses LO P3
[The following information applies to the questions displayed below.]
Stoll Company's long-term available-for-sale portfolio at the start of this year consists of the following.
Loss
Available-for-Sale Securities
Cost
Company A bonds
Company B notes
$ 530,800
159,470
661,900
Company C bonds
Stoll enters into the following transactions involving its available-for-sale debt securities this year.
January 29 Sold one-half of the Company B notes for $78,810.
July 6 Purchased Company X bonds for $124,000.
November 13 Purchased Company Z notes for $267,100.
December 9 Sold all of the Company A bonds for $517,200.
Fair values at December 31 are B, $85,000; C, $604,500; X, $119,000; and Z, $279,000.
Fair Value
$ 494,000
152,000
647,730
Problem 15-3A (Algo) Part 3
3. What amount of gains or losses on transactions relating to long-term investments in available-for-sale debt securiti
does Stoll report on its income statement for this year?
Answer is not complete.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8868685d-db6b-42ee-8763-d30829dbb190%2F1131892a-79fe-40da-afd7-eb632f27513b%2Fnu3esb_processed.png&w=3840&q=75)
Transcribed Image Text:Required information
Problem 15-3A (Algo) Debt investments in available-for-sale securities; unrealized and
realized gains and losses LO P3
[The following information applies to the questions displayed below.]
Stoll Company's long-term available-for-sale portfolio at the start of this year consists of the following.
Loss
Available-for-Sale Securities
Cost
Company A bonds
Company B notes
$ 530,800
159,470
661,900
Company C bonds
Stoll enters into the following transactions involving its available-for-sale debt securities this year.
January 29 Sold one-half of the Company B notes for $78,810.
July 6 Purchased Company X bonds for $124,000.
November 13 Purchased Company Z notes for $267,100.
December 9 Sold all of the Company A bonds for $517,200.
Fair values at December 31 are B, $85,000; C, $604,500; X, $119,000; and Z, $279,000.
Fair Value
$ 494,000
152,000
647,730
Problem 15-3A (Algo) Part 3
3. What amount of gains or losses on transactions relating to long-term investments in available-for-sale debt securiti
does Stoll report on its income statement for this year?
Answer is not complete.
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