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17a 12/5/18 Provide the entries and adjustments below for question 17 The company made cash purchases of 25,000 shares of Carrot Corp.'s preferred stock at
17a |
12/5/18 | Provide the entries and adjustments below for question 17 The company made cash purchases of 25,000 shares of Carrot Corp.'s preferred stock at $21.60 per share plus commission $3,650; 1,000 shares of Pepper Co.'s common stock at $6.50 plus commission $890; and 17,000 shares of Onions Inc.s preferred stock at $13.75 per share plus commission $1,860. | ||||||||
No. of Stocks | Market price | Commission | ||||||||
Carrot's preferred stock | ||||||||||
Pepper's preferred stock | ||||||||||
Onions' preferred stock | ||||||||||
12/5/18 | ||||||||||
17b | 12/25/18 | The company sold 10,000 shares of Carrot Corp.s preferred stock at a market price of $26.25 per share less brokerage commissions, taxes, and fees of $1,550. | ||||||||
Carrot's preferred stock | ||||||||||
Market price | ||||||||||
Commission | ||||||||||
12/25/18 | ||||||||||
17c | 12/31/18 | The year-end fair values per share were: Carrot $30.00, Pepper $6.10, and Onions $14.50. Adjusting entries should be provided on Tab 6. | ||||||||
Market value | Cost | Fair value | Unrealized Gain/Loss | |||||||
Carrot's shares | ||||||||||
Pepper's shares | ||||||||||
Onions' shares | ||||||||||
Total | ||||||||||
12/31/2018 | Use =ABS function | |||||||||
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