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Old MathJax webview I have completed the majority of the part 1 but I can not figure out how to get the last part solved.
Old MathJax webview
I have completed the majority of the part 1 but I can not figure out how to get the last part solved. I also need help with part 2. if you could show me how you get your answer, it will help me understand how to solve these problems
Check my work Required information Problem 15-3A Debt investments in available- for-sale securities; unrealized and realized gains and losses LO P3 [The following information applies to the questions displayed below.] Stoll Co.'s long-term available-for-sale portfolio at the start of this year consists of the following. Available-for-Sale Securities Company A bonds Company B notes Company C bonds Cost $532,700 159, 240 662,600 Fair Value $494,000 152,000 645, 100 Stoll enters into the following transactions involving its available-for-sale debt securities this year. Jan. 29 Sold one-half of the Company B notes for $78,640. July 6 Purchased bonds of Company x for $123,700. Nov. 13 Purchased notes of Company 2 for $267,700. Dec. 9 Sold all of the bonds of Company A for $524,800. The fair values at December 31 are B, $83,300; C, $600,200; X, $113,000; and Z, $276,000. Problem 15-3A Part 1 and 2 Required: 1. Prepare journal entries to record these transactions, including the December 31 adjusting entry to record the fair value adjustment for the long-term investments in available-for-sale securities. 2. Determine the amount Stoll reports on its December 31 balance sheet for its long-term investments in available-for-sale securities. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare journal entries to record these transactions, including the December 31 adjusting entry to record the fair value adjustment fo investments in available-for-sale securities. View transaction list View journal entry worksheet No Date General Journal Debit Credit lan 29 Cach 7860 7 15-3A Part 1 and 2 1: e journal entries to record these * ons, including the December 31 adjusting record the fair value adjustment for the n investments in available-for-sale S. mine the amount Stoll reports on its er 31 balance sheet for its long-term ents in available-for-sale securities. stion by entering your answers in the tabs below. equired 2 ies to record these transactions, including the December 31 adjusting entry to record the fair value adjustment for able-for-sale securities. st View journal entry worksheet late General Journal Debit Credit Jan. 29 Cash 78,640 Loss on sale of debt investments 980 Debt investments - AFS 79,620 Jul 06 Debt investments - AFS 123,700 Cash 123,700 Nov. 13 Debt investments - AFS 267,700 Cash 267,700 Dec. 9 Cash 524,800 Loss on sale of debt investments 7,900 Debt investments - AFS 532,700 Dec. 31 Fair value adjustment - AFS Unrealized loss - Equity The fair values at December 31 are B, $83,300; C, $600,200; X, $113,000; and Z, $276,000. Problem 15-3A Part 1 and 2 Required: 1. Prepare journal entries to record these transactions, including the December 31 adju entry to record the fair value adjustment fort long-term investments in available-for-sale securities. 2. Determine the amount Stoll reports on its December 31 balance sheet for its long-term investments in available-for-sale securities. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine the amount Stoll reports on its December 31 balance sheet for its long-term investments in available for Fair Value Adjustment Computation - Available-for-Sale Securities December 31 AFS Securities Cost Fair Value Unrealized Amount Total $ 0 $ 0Step by Step Solution
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