Twist Corp. had no short-term investments prior to year 2017. It had the following transactions involving short-term investments in available-for-sale securities during 2017. For the Dec 31ST Adjustment Period what formula would I use? It's the only one that I can not figure out.Apr. 16 Purchased 5,000 shares of Lafayette Co. stock at $26 per share.July 7 Purchased 3,500 shares of CVF Co. stock at $51 per share. 20 Purchased 1,600 shares of Green Co. stock at $18 per share.Aug. 15 Received an $1.20 per share cash dividend on the Lafayette Co. stock. 28 Sold 3,000 shares of Lafayette Co. stock at $29 per share.Oct. 1 Received a $3.30 per share cash dividend on the CVF Co. shares.Dec. 15 Received a $1.40 per share cash dividend on the remaining Lafayette Co. shares. 31 Received a $2.70 per share cash dividend on the CVF Co. shares. For each transaction, indicate the change, if any, in total assets and total equity. If equity changes, indicate whether the change wasreflected as a component of net income, or directly within the stockholders' equity portion of the balance sheet. Remember that thechange in total assets must agree with the change in total equity.Show less AChange inChange in equity:As a directAs acomponent of component ofnet incomeTotal changein equityTotal assetsstockholders'equityApr. 16) Purchased 5,000 shares of Lafayette Co. stock at $26 pershare.$2$$Jul. 7) Purchased 3,500 shares of CVF Co. stock at $51 per share.Jul. 20) Purchased 1,600 shares of Green Co. stock at $18 per share.Aug. 15) Received an $1.20 per share cash dividend on the LafayetteCo. stock.6,0006,0006,000Aug. 28) Sold 3,000 shares of Lafayette Co. stock at $29 per share.9,0009,0009,000Oct. 1) Received a $3.30 per share cash dividend on the CVF Co.shares.11,55011,55011,550Dec. 15) Received a $1.40 per share cash dividend on the remainingLafayette Co. shares.Dec. 31) Received a $2.70 per share cash dividend on the CVF Co.2,8002,8002,8009,4509,4509,450shares.Dec. 31) Adjusted the securities to year-end fair value.Totals$38,800$38,800$$38,800

Note: Since the fair values of investments are given in the question they are assumed to be:…

Answered: Twist Corp. had no short-term…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Twist Corp. had no short-term investments prior to year 2017. It had the following transactions involving short-term investments in available-for-sale securities during 2017.

For the Dec 31ST Adjustment Period what formula would I use? It's the only one that I can not figure out.

Apr.	16	Purchased 5,000 shares of Lafayette Co. stock at $26 per share.
July	7	Purchased 3,500 shares of CVF Co. stock at $51 per share.
	20	Purchased 1,600 shares of Green Co. stock at $18 per share.
Aug.	15	Received an $1.20 per share cash dividend on the Lafayette Co. stock.
	28	Sold 3,000 shares of Lafayette Co. stock at $29 per share.
Oct.	1	Received a $3.30 per share cash dividend on the CVF Co. shares.
Dec.	15	Received a $1.40 per share cash dividend on the remaining Lafayette Co. shares.
	31	Received a $2.70 per share cash dividend on the CVF Co. shares.

For each transaction, indicate the change, if any, in total assets and total equity. If equity changes, indicate whether the change was
reflected as a component of net income, or directly within the stockholders' equity portion of the balance sheet. Remember that the
change in total assets must agree with the change in total equity.
Show less A
Change in
Change in equity:
As a direct
As a
component of component of
net income
Total change
in equity
Total assets
stockholders'
equity
Apr. 16) Purchased 5,000 shares of Lafayette Co. stock at $26 per
share.
$
2$
$
Jul. 7) Purchased 3,500 shares of CVF Co. stock at $51 per share.
Jul. 20) Purchased 1,600 shares of Green Co. stock at $18 per share.
Aug. 15) Received an $1.20 per share cash dividend on the Lafayette
Co. stock.
6,000
6,000
6,000
Aug. 28) Sold 3,000 shares of Lafayette Co. stock at $29 per share.
9,000
9,000
9,000
Oct. 1) Received a $3.30 per share cash dividend on the CVF Co.
shares.
11,550
11,550
11,550
Dec. 15) Received a $1.40 per share cash dividend on the remaining
Lafayette Co. shares.
Dec. 31) Received a $2.70 per share cash dividend on the CVF Co.
2,800
2,800
2,800
9,450
9,450
9,450
shares.
Dec. 31) Adjusted the securities to year-end fair value.
Totals
$
38,800
$
38,800
$
$
38,800

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