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I just need B done. Pasting is a nightmare with Chegg so I don't have A's info listed, but ask me if you need anything
I just need B done. Pasting is a nightmare with Chegg so I don't have A's info listed, but ask me if you need anything from it. Thanks in advance!
At December 31, the fair values of the LAF and NCL common stocks were $39 and $32 per share, respectively. These stock investments by Oriole Company provide less than a 20% ownership interest.
Question 1 of 1 1.33/4 INI In January 2022, the management of Oriole Company concludes that it has sufficient cash to purchase some short-term investments in debt and stock securities. During the year, the following transactions occurred. Jan. 1 Purchased 77 $1,000,9% TRC bonds for $77,000. Interest is payable annually on December 31. Feb. 1 Purchased 1,200 shares of LAF common stock for $51,600. Mar. 1 Purchased 510 shares of NCL common stock for $19,890. July 1 Received a cash dividend of $0.80 per share on the LAF common stock. Aug. 1 Sold 200 shares of LAF common stock at $42 per share. Sept. 1 Received $2 per share cash dividend on the NCL common stock. Dec. 31 Received the annual interest on the TRC bonds. 31 Sold the TRC bonds for $80,082. III Question 1 of 1 1.33 / 4 E (b) Prepare the adjusting entry at December 31, 2022, to report the investments at fair value. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31 Unrealized Gain or Loss-Equity Fair Value Adjustment-StockStep by Step Solution
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