Question
At December 31, year 1, Charter Holding Co. owned the following marketable securities in capital stock of publicly traded companies. Cost Current Market Value L
At December 31, year 1, Charter Holding Co. owned the following marketable securities in capital stock of publicly traded companies.
Cost | Current Market Value | ||||||
L Brands, Inc. (5,000 shares: cost, $44 per share; market value, $52) | $ | 220,000 | $ | 260,000 | |||
The Gap, Inc. (4,000 shares: cost, $42 per share; market value, $39) | 168,000 | 156,000 | |||||
$ | 388,000 | $ | 416,000 | ||||
In year 2, Charter engaged in the following two transactions.
Apr. | 10 | Sold 1,000 shares of its investment in L Brands, Inc., at a price of $58 per share, less a brokerage commission of $100. | |
Aug. | 7 | Sold 2,000 shares of its investment in The Gap, Inc., at a price of $37 per share, less a brokerage commission of $150. |
At December 31, year 2, the market values of these stocks were: L Brands, Inc., $67 per share; and The Gap, Inc., $37 per share.
Can I please get the HELP with C-2?
c-2 Prior to making a mark-to-market adjustment at the end of year 2, determine the Unrealized Holding Gain (or Loss) on Investments account.
Prior to making a mark-to-market adjustment at the end of year 2, determine the Unrealized Holding Gain (or Loss) on Investments account.
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