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On December 31, 2021, the end of its first year of operations, Cullumber Associates owned the following securities, that are held as a long-term
On December 31, 2021, the end of its first year of operations, Cullumber Associates owned the following securities, that are held as a long-term investments. The securities are not held for influence or control of the investee. Common Stock Shares Cost Gehring Co. 2,000 $60,000 Wooderson Co. 5,000 45,000 Kitselton Co. 1,400 25,200 On December 31, 2021, the total fair value of the securities was equal to its cost. In 2022, the following transactions occurred. Aug- 1 Received $0.50 per share cash dividend on Gehring Co. common stock. Sept 1 Oct. 1 Nov. 1 Dec 15 Dec. 31 Sold 1,500 shares of Wooderson Co. common stock for cash at $8 per share. Sold 800 shares of Gehring Co. common stock for cash at $33 per share. Received $1 per share cash dividend on Kitselton Co. common stock. Received $0.50 per share cash dividend on Gehring Co. common stock. Received $1 per share annual cash dividend on Wooderson Co. common stock. At December 31, the fair values per share of the common stocks were: Gehring Co. $32, Wooderson Co. $8, and Kitselton Co. $16. These investments should be classified as long-term.
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