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need journal and balance sheet please!! Instructions Rios Co is a regional insurance company that began operations on January 1, 2012. The following selected transactions
need journal and balance sheet please!!
Instructions Rios Co is a regional insurance company that began operations on January 1, 2012. The following selected transactions relate to investments acquired by Ries Co, which has a tecal year ending on December 31. Record these transactions on page 10 20Y2 Feb 1 Purchased 7,500 shares of Caldwel Inc. common stock at $50 per share plus a brokerage commission of $75. Caldwell has 100.000 shares of common stock outstanding 1 Purchased securities of Holland Inc. as a trading investment for $126,000 3 Sold 4,500 shares of Caldwell inc for 546 per share less a $110 brokerage commission 31 Received an annual dividend of $0.50 per share on 3,000 shares of Caldwell inc stock 15 Sold the remaining shares of Caldwell Inc, for $51 per share less a $90 brokerage commission 31 The trading securities of Holland Inc tuve a fair value on December 31 of $120,000 May July Nov Dec Record these transactions on page 11: 20Y3 Apr. Oct. Dec. Issuing Company Cost Fair Value Holland Inc. $126,000 $132,500 Fuller Inc. 100,000 115,600 1 Purchased securities of Fuller Inc, as a trading investment for $125,000. 14 Sold securities of Fuller Inc. that cost $25,000 for $30,000. 31 The fair values of the Holland Inc. and Fuller Inc. securities are as follows: Required: 1. Journalize the entries to record the preceding transactions, including any December 31 adjusting entries. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations Every line on a journal page is used for debitor credit entries CNOW journals will automatically indent a credit entry when a credit amount is entered Round your intermediate calculations to two decimal places and round your final answers to the nearest dollar. 2. Prepare the Trading Investments section of the December 31, 2013, balance sheet for Ros Co. Be sure to complete the statement heading Refer to the Chart of Accounts and the list of Labels and Amount Descriptions for the exact wording of the answer choices for text entries Colons () will fill in where needed 3. How are unrealized gains or losses on trading investments presented on the financial statements of Rios Co.? to Step by Step Solution
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