Recording, adjusting, and reporting short-term available for-sale securities?
First, some mistakes I found on your entries (you may have just miskeyed some answers when retyping them into Y/A). Apr. 16 (10,000 x 23.75) + 460 = $237,960 Dec. 31 5,000 x 1.15 = $5,750 For your chart in #2 you just put in the original cost and the fair value of the investments now. The difference is the unrealized gain or loss. The Gem Co. stock is the only one that will have a different total cost (because of the sale on Aug. 28) . . . . . . . . . . .Cost - Fair Value - Unrealized Gain (Loss) Gem Co - . . 118,980 . .130,000 . . 11,020 Pepsi Co- . . 225,430 . .211,250 . .(14,180) Xerox- . . . . . .43,010 . .. 35,000 . . (8,010) Total - . . . . .387,420 . . 376,625 . (11,170) Now just put the loss in journal form. Losses are debited, gains are credited. Dr Unrealized Holding Gain or Loss--Equity 11,170 Cr Securities Fair Value Adjustment (AFS) 11,170
Available-for-Sale Securities Entries and Reporting?
Player Corporation purchases equity securities costing $73,000 and classifies them as available-for-sale securities. At December 31, the fair value of the portfolio is $67,000. Prepare the adjusting entry to report the securities properly.
What is the answer to the following accounting question?
Funk Company has the following securities in its investment portfolio on December 31, 2007 (all securities were purchased in 2007): (1) 5,000 shares of Beem Co. common stock which cost $55,000, (2) 30,000 shares of Lenard Co. common stock which cost $150,000, and (3) 4,000 shares of Taylor Co. common stock which cost $120,000. The Securities Fair Value Adjustment account shows a credit of $8,500 at the end of 2007. In 2008 Funk completed the following securities transactions: (a) On March 15, sold 2,000 shares of Beem's common stock at $10 per share less fees of $150. (b) On June 1, purchased 10,000 shares of Chong Co. common stock at $12 per share plus fees of $200. On December 31, 2008, the market values per share of these securities were: Beem $8, Lenard $10, Taylor $28, and Chong $15. In addition, the Treasurer of Funk told you that, even though all these securities have readily determinable fair values, Funk will not actively trade these securities because the company plans to hold them for more than one year. Instructions (a) Prepare the entry for the security sale on March 15, 2008. (b) Prepare the journal entry to record the security purchase on June 1, 2008. (c) Compute the unrealized gains or losses and prepare the adjusting entry for Beem on December 31, 2008.
Accouting help!! problem from pascual company's portfolio of long-term...?
like the gays.
What is the best online stock portfolio tracking tool?
Check out: SigFig - The easiest way to manage & improve your investmentsIt shows you most of these things (I think the only thing missing is the chart), but also includes the following data points on your portfolio:Your portfolio benchmarked against S&P 5000Portfolio (systemic) risk level, as measured by betaYour portfolio's allocation (across asset classes and geography)Breakdown of fees (mutual funds, ETFs, adviser, and commissions)Portfolio dividend yieldTrades per yearPortfolio turnoverVarious valuation and performance metrics for your portfolio: P/E, P/B, ROA, ROE, TEV/EBITDA
Basic Accounting Question involving Availiable-for-Sale Investments.?
Park Co.’s long-term available-for-sale portfolio at December 31, 2010, consists of the following. Available-for-Sale Securities Cost Fair Value 74,000 shares of Company A common stock $ 1,195,000 $ 899,100 22,000 shares of Company B common stock 407,000 382,800 43,000 shares of Company C common stock 1,526,500 1,483,500 Park enters into the following long-term investment transactions during year 2011. Jan. 29 Sold 11,000 shares of Company B common stock for $196,900 less a brokerage fee of $2,500. Apr. 17 Purchased 22,000 shares of Company W common stock for $478,500 plus a brokerage fee of $4,500. The shares represent a 30% ownership in Company W. July 6 Purchased 10,500 shares of Company X common stock for $315,000 plus a brokerage fee of $2,700. The shares represent a 20% ownership in Company X. Aug. 22 Purchased 74,000 shares of Company Y common stock for $547,600 plus a brokerage fee of $4,400. The shares represent a 51% ownership in Company Y. Nov. 13 Purchased 21,000 shares of Company Z common stock for $701,400 plus a brokerage fee of $5,400. The shares represent a 5% ownership in Company Z. Dec. 9 Sold 74,000 shares of Company A common stock for $1,165,500 less a brokerage fee of $4,400. The fair values of its investments at December 31, 2011, are: Fair Value B $ 193,200 C 1,397,500 W 473,000 X 304,500 Y 769,600 Z 726,600 1. Determine the amount Park should report on its December 31, 2011, balance sheet for its long-term investments in available-for-sale securities. (Omit the "$" sign in your response.) Amount $ 2. Prepare any necessary December 31, 2011, adjusting entry to record the fair value adjustment for the long-term investments in available-for-sale securities. 3. What amount of gains or losses on transactions relating to long-term investments in available-for-sale securities should Park report on its December 31, 2011, income statement? (Loss should be indicated by a minus sign. Omit the "$" sign in your response.) $ Have been working on this problem for ages and grades are due very soon. Can anyone help me out?
Accounting Question Do Not Understand!!!?
Park Co.’s long-term available-for-sale portfolio at December 31, 2010, consists of the following. Available-for-Sale Securities Cost Fair Value 80000 shares of Company A common stock $ 1,357,000 $ 1,020,00 25000 shares of Company B common stock 477,500 450,000 46000 shares of Company C common stock 1,667,500 1,621,500 --------------------------------------... Park enters into the following long-term investment transactions during year 2011. The fair values of its investments at December 31, 2011, are: Jan. 29 Sold 12,500 shares of Company B common stock for $232,500 less a brokerage fee of $3,000. Apr. 17 Purchased 16,000 shares of Company W common stock for $360,000 plus a brokerage fee of $6,000. The shares represent a 30% ownership in Company W. July 6 Purchased 12,000 shares of Company X common stock for $369,000 plus a brokerage fee of $3,000. The shares represent a 20% ownership in Company X. Aug. 22 Purchased 80,000 shares of Company Y common stock for $640,000 plus a brokerage fee of $5,000. The shares represent a 51% ownership in Company Y. Nov. 13 Purchased 24,000 shares of Company Z common stock for $816,000 plus a brokerage fee of $6,000. The shares represent a 15% ownership in Company Z. Dec. 9 Sold 80,000 shares of Company A common stock for $1,320,000 less a brokerage fee of $5,000. Fair Value B $ 229,200 C 1,529,500 W 356,000 X 357,000 Y 880,000 Z 844,800 Determine the amount Park should report on its December 31, 2011, balance sheet for its long-term investments in available-for-sale securities? Prepare any necessary December 31, 2011, adjusting entry to record the fair value adjustment for the long-term investments in available-for-sale securities? What amount of gains or losses on transactions relating to long-term investments in available-for-sale securities should Park report on its December 31, 2011, income statement?
Please help with accounting question?
Ryder Company, which began operations in 2011, invests its idle cash in trading securities. The following transactions are from its short-term investments in its trading securities. 2011 Jan. 20 Purchased 1,000 shares of Ford Motor Co. at $27 per share plus a $120 commission. Feb. 9 Purchased 2,800 shares of Lucent at $30 per share plus a $190 commission. Oct. 12 Purchased 780 shares of Z-Seven at $7.60 per share plus a $100 commission. 2012 Apr. 15 Sold 1,000 shares of Ford Motor Co. at $31 per share less a $295 commission. July 5 Sold 780 shares of Z-Seven at $10.75 per share less a $90 commission. July 22 Purchased 1,700 shares of Hunt Corp. at $33 per share plus a $230 commission. Aug. 19 Purchased 1,800 shares of Donna Karan at $15 per share plus a $105 commission. 2013 Feb. 27 Purchased 3,900 shares of HCA at $33 per share plus a $400 commission. Mar. 3 Sold 1,700 shares of Hunt at $28 per share less a $130 commission. June 21 Sold 2,800 shares of Lucent at $27.75 per share less a $32 commission. June 30 Purchased 1,300 shares of Black & Decker at $47.50 per share plus a $600 commission. Nov. 1 Sold 1,800 shares of Donna Karan at $19.75 per share less a $124 commission. 1. Prepare journal entries to record these short-term investment activities for the years shown. (Ignore any year-end adjusting entries.) 2. On December 31, 2013, prepare the adjusting entry to record any necessary fair value adjustment for the portfolio of trading securities when HCA’s share price is $35 and Black & Decker’s share price is $43.5. (Assume the Fair Value Adjustment—Trading account had an unadjusted balance of zero.)