Stoll Company's long-term available-for-sale portfolio at the start of this year consists of the following. Available-for-Sale Securities Cost Company A bonds Company B notes Company C bonds $ 535,300 159,380 662,750 Fair Value $ 490,000 154,000 713,630 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 $79,200. July 6 Purchased Company X bonds for $126,600. November 13 Purchased Company Z notes for $267,900. December 9 Sold all of the Company A bonds for $515,000. Fair values at December 31 are B, $81,000; C, $665,000; X, $118,000; and Z, $278,000.

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Can you please help with December 31?

Stoll Company's long-term available-for-sale portfolio at the start of this year consists of the following.
Fair Value
$ 490,000
154,000
713,630
Available-for-Sale Securities
Cost
Company A bonds
Company B notes
Company C bonds
$ 535,300
159,380
662,750
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 $79,200.
July 6 Purchased Company X bonds for $126,600.
November 13 Purchased Company Z notes for $267,900.
December 9 Sold all of the Company A bonds for $515,000.
Fair values at December 31 are B, $81,000; C, $665,000; X, $118,000; and Z, $278,000.
Transcribed Image Text:Stoll Company's long-term available-for-sale portfolio at the start of this year consists of the following. Fair Value $ 490,000 154,000 713,630 Available-for-Sale Securities Cost Company A bonds Company B notes Company C bonds $ 535,300 159,380 662,750 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 $79,200. July 6 Purchased Company X bonds for $126,600. November 13 Purchased Company Z notes for $267,900. December 9 Sold all of the Company A bonds for $515,000. Fair values at December 31 are B, $81,000; C, $665,000; X, $118,000; and Z, $278,000.
No
1
2
3
4
5
Date
January 29
July 06
November 13
December 09
December 31
Cash
Loss on sale of debt investments
Debt investments - AFS
Debt investments - AFS
Cash
General Journal
Debt investments - AFS
Cash
Cash
Loss on sale of debt investments
Debt investments - AFS
Fair value adjustment - AFS
Unrealized gain - Equity
Debit
79,200
490
126,600
267,900
515,000
20,300
5,060
Credit
79,690
126,600
267,900
535,300
5,060
Transcribed Image Text:No 1 2 3 4 5 Date January 29 July 06 November 13 December 09 December 31 Cash Loss on sale of debt investments Debt investments - AFS Debt investments - AFS Cash General Journal Debt investments - AFS Cash Cash Loss on sale of debt investments Debt investments - AFS Fair value adjustment - AFS Unrealized gain - Equity Debit 79,200 490 126,600 267,900 515,000 20,300 5,060 Credit 79,690 126,600 267,900 535,300 5,060
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