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Vaughn Company began operations in 2024. Since then, it has reported the following gains and losses for its equity investments on the income statement: Gains (losses) from sale of securities Unrealized holding losses on valuation of securities Unrealized holding gain on valuation of securities At January 1, 2027, Vaughn owned the following securities: BKD Common (16,000 shares @ $32) LRF Preferred (2,400 shares @ $106) During 2027, the following events occurred: 1. 2 (b) Cost $512,000 254,400 At 12/31/27, the fair values for Vaughn's investments were: BKD Common, $30 per share LRF Preferred, $111 per share Horton Common, $44 per share 2024 $14,100 $(20,900) (25,100) Aggregate cost $ Aggregate fair value $ 2025 - Sold 4,700 shares of BKD for $164.500. Acquired 1,000 shares of Horton Common for $39 per share. Brokerage commissions totaled $1,000 10,400 2026 Compute the aggregate cost and fair values for Vaughn's securities portfolio at 12/31/27. $13,800 (14,700)

Vaughn Company began operations in 2024. Since then, it has reported the following gains and losses for its equity investments on the income statement: Gains (losses) from sale of securities Unrealized holding losses on valuation of securities Unrealized holding gain on valuation of securities At January 1, 2027, Vaughn owned the following securities: BKD Common (16,000 shares @ $32) LRF Preferred (2,400 shares @ $106) During 2027, the following events occurred: 1. 2 (b) Cost $512,000 254,400 At 12/31/27, the fair values for Vaughn's investments were: BKD Common, $30 per share LRF Preferred, $111 per share Horton Common, $44 per share 2024 $14,100 $(20,900) (25,100) Aggregate cost $ Aggregate fair value $ 2025 - Sold 4,700 shares of BKD for $164.500. Acquired 1,000 shares of Horton Common for $39 per share. Brokerage commissions totaled $1,000 10,400 2026 Compute the aggregate cost and fair values for Vaughn's securities portfolio at 12/31/27. $13,800 (14,700)

FINANCIAL ACCOUNTING
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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Vaughn Company began operations in 2024. Since then, it has reported the following gains and losses for its equity investments on the income statement: Gains (losses) from sale of securities Unrealized holding losses on valuation of securities Unrealized holding gain on valuation of securities At January 1, 2027, Vaughn owned the following securities: BKD Common (16,000 shares @ $32) LRF Preferred (2,400 shares @ $106) 1. 2. (b) 2024 $14,100 (25,100) Cost $512,000 254,400 During 2027, the following events occurred: Sold 4,700 shares of BKD for $164,500. Acquired 1,000 shares of Horton Common for $39 per share. Brokerage commissions totaled $1,000. At 12/31/27, the fair values for Vaughn's investments were: BKD Common, $30 per share LRF Preferred, $111 per share Horton Common, $44 per share Aggregate cost Aggregate fair value $ 2025 $(20,900) 10,400 2026 $13,800 (14,700) Compute the aggregate cost and fair values for Vaughn's securities portfolio at 12/31/27.
Transcribed Image Text:Vaughn Company began operations in 2024. Since then, it has reported the following gains and losses for its equity investments on the income statement: Gains (losses) from sale of securities Unrealized holding losses on valuation of securities Unrealized holding gain on valuation of securities At January 1, 2027, Vaughn owned the following securities: BKD Common (16,000 shares @ $32) LRF Preferred (2,400 shares @ $106) 1. 2. (b) 2024 $14,100 (25,100) Cost $512,000 254,400 During 2027, the following events occurred: Sold 4,700 shares of BKD for $164,500. Acquired 1,000 shares of Horton Common for $39 per share. Brokerage commissions totaled $1,000. At 12/31/27, the fair values for Vaughn's investments were: BKD Common, $30 per share LRF Preferred, $111 per share Horton Common, $44 per share Aggregate cost Aggregate fair value $ 2025 $(20,900) 10,400 2026 $13,800 (14,700) Compute the aggregate cost and fair values for Vaughn's securities portfolio at 12/31/27.
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