Question
At the beginning of 2019, HTW Co. purchased 31,000 shares of Jones and Son's common stock for $8/share for their Debt Repayment Fund. At the
At the beginning of 2019, HTW Co. purchased 31,000 shares of Jones and Son's common stock for $8/share for their Debt Repayment Fund. At the end of 2019, Jones and Son's stock was selling for $5/share. How much should HTW Co. report on its 2020 balance sheet for the Debt Repayment Fund if the Jones and Sons stock is the only stock in the portfolio?
| $248,000 | ||
| $161,200 | ||
| $86,800 | ||
| There is not enough information to answer this question. |
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Accounting Information For Business Decisions
Authors: Billie Cunningham, Loren A. Nikolai, John Bazley, Marie Kavanagh, Geoff Slaughter, Sharelle Simmons
2nd Edition
0170253708, 978-0170253703
