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CES Problem 16-05A a-d (Part Level Submission) CALCULATOR PRINTER VERSTON The following securities are in Ivanhoe Company's portfolio of long-term securities at December 31, 2020.
CES Problem 16-05A a-d (Part Level Submission) CALCULATOR PRINTER VERSTON The following securities are in Ivanhoe Company's portfolio of long-term securities at December 31, 2020. BACK Cost 1,400 shares of Willhite Corporation comimon stock sion) $70,000 96,900 30,000 1,700 shares of Hutcherson Corporation common stock 1,000 shares of Downing Corporation preferred stock On December 31, 2020, the total cost of the portfolio equaled total fair value. Ivanhoe had the following transactions related to the securities during 2021. Study Sold all 1,400 shares of Willhite Corporation commori stock at $53 per share. Jan. 20 Purchased 480 shares of $67 par value common stock of Liggett Corporation at $75 per share. 28 Received a cash dividend of $1.15 per share on Hutcherson Corp. comman stock. 30 Received cash dividends of $0.30 per share on Downing Corp. preferred stock Feb Sold all 1,000 shares of Downing Corp. preferred stock at $29 per share 18 Received a cash dividend of $1.00 per share on Hutcherson Corp. common stock July 30 Purchased an additional 890 shares of $15 par value common stock of Liggett Corporation at $79 per share. 6 Sept. Received a cash dividend of $1.30 per share on Liggett Corparation common stock Dec. 1 At December 31, 2021,the fair values of the securities were: $61 per share Hutcherson Corporation common stock $69 per share Liggett Corporation comman stock MacBook Pro (a) 16 Your answer is correct. ession) CALCULATOR PRINTER VERSE Prepare journal entries to record the transactions. (Gredit account titles are automatically indented when amount is entered. i entry is required, select "No entry" for the account titles and enter 0 for the amounts, Record fournal antries in the order presented in If no BACK NEXT ssion) a-d nission Date Account Titles and Explanation o not indent a de prpblem) Debit Credit Jan. 20 Cash 74200 y Study Stock Investments 70000 Gain on Sale of Stock Investments 4200 TJan. 28 Stock Investments 36000 36000 Cash 1955 Clash Jan. 30 E561 Dividend Reveimue 300 Cash 300 Feb. 8 Dividend 29000 MacBook Pr 6 5 A 16 Feb. 18 Cash CALCULATOR PRINTSR VERSION 29000 BACK NEXT Loss on Sale of Stock Investments d ssion) 1000 Stock Investments 30000 ission July 30 Cash 1700 Study Dividend Revenue 700 Sept. 6 Stock Investments 70310 Gash 70310 1/81 Dec. 1 Cash 28 Dividend Revernue Open Show Work Click if you would like to Show Work for this question: By accessing this Question Assistance, you will iearn while you earn points based on the Point Potential Policy set by your instructor Attempts: 2 of used acbook Pro % 6 5 # Y r 16 a-c ission) (b) CLORATOR Your answer is correct. a-d nission) Post to the investment accounts. (Use T-accounts.) (Post entries in the order of journal entries presented in te pr a-d mission) Stock Investments rt 1/1 Bal. 1/20 70000 y Study 1/28 36000 2/18 30000 9/6 70310 12/31 Bal. 203210 Click if you would like to Show Work for this question: Open Show Work By accessing this Question Assistance, you will learn while you earn points based on the Paint Potential Paicy tby your Atp1 of 15 Collapse question part (c) % 5 4 (c) ssion) CALCULATOR PRINTER VERSON Your answer is partially correct. Try again. BACK NEXT H ission) Prepare the adjusting entry at December 31, 2021 to report the portfolio at fair value. (Credit account titles are Do not indent manually. If no entry is required, select "No entry" for the account titles and enter a-d nission) for th matically indented when amount is entered. e amounts.) Date Account Titles and Explanation Debit Credit Dec. 31 Unrealized Gain or Loss-Income y Study 3200 Fair Value Adjustment-Stock 3200 Click if you would like to Show Work for this question: Open Show Work By accessing this Question Assistance, you will learm while you earn points based on the Point Potential Policy set by your instructor SAVE FOR LATER SUBMIT ANSWER Attempts: 5 of 15 used The parts orthis buestioimust be completed in order. This part will be available wheh you complete the part above MacBook Pro 44 % 6 5 # 4 Y 3 T
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