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Please answer all in clear steps. I really need all answers. please Problem 16-5A The following securities are in Frederick Company's portfolio of long-term available-for-sale
Please answer all in clear steps. I really need all answers. please
Problem 16-5A The following securities are in Frederick Company's portfolio of long-term available-for-sale securities at December 31, 2017 Cost $60,000 1,200 shares of Willhite Corporation common stock 1,200 shares of Hutcherson Corporation common stock 1,000 shares of Downing Corporation preferred stock 69,600 26,000 On December 31, 2017, the total cost of the portfolio equaled total fair value. Frederick had the following transactions related to the securities during 2018 Jan. 20 Sold all 1,200 shares of Willhite Corporation common stock at $53 per share 28 Purchased 540 shares of $72 par value common stock of Liggett Corporation at $80 per share 30 Received a cash dividend of $1.45 per share on Hutcherson Corp. common stock. Feb. 8 Received cash dividends of $0.40 per share on Downing Corp. preferred stock. Sold all 1,000 shares of Downing Corp. preferred stock at $25 per share Received a cash dividend of $1.00 per share on Hutcherson Corp. common stock. Purchased an additional 860 shares of $15 par value common stock of Liggett Corporation at $84 per share Received a cash dividend of $1.20 per share on Liggett Corporation common stock. 18 July 30 Sept. 6 Dec. 1 At December 31, 2018, the fair values of the securities were: Hutcherson Corporation common stock Liggett Corporation common stock $62 per share $74 per share Prepare journal entries to record the transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit
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