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Prepare a partial balance sheet showing the investment-related amounts to be reported at December 31, 2020 and 2021. Current Attempt in Progress Martinez, Inc. had
Prepare a partial balance sheet showing the investment-related amounts to be reported at December 31, 2020 and 2021.
Current Attempt in Progress Martinez, Inc. had the following equity investment portfolio at January 1, 2020. Evers Company 970 shares @ $15 each $14,550 Rogers Company 860 shares @ $20 each 17,200 Chance Company 530 shares @ $9 each 4.770 Equity investments @ cost 36,520 Fair value adjustment (7,280) Equity investments @fair value $29,240 During 2020, the following transactions took place. 1. On March 1, Rogers Company paid a $2 per share dividend. 2. On April 30, Martinez, Inc. sold 320 shares of Chance Company for $11 per share. 3. On May 15, Martinez, Inc. purchased 90 more shares of Evers Company stock at $16 per share. 4. At December 31, 2020, the stocks had the following price per share values: Evers $17, Rogers $19, and Chance $8. During 2021, the following transactions took place. 5. On February 1, Martinez, Inc. sold the remaining Chance shares for $8 per share. 6. On March 1, Rogers Company paid a $2 per share dividend. 7. On December 21, Evers Company declared a cash dividend of $3 per share to be paid in the next month. 8. At December 31, 2021, the stocks had the following price per share values: Evers $19 and Rogers $21. Prepare a partial balance sheet showing the investment-related amounts to be reported at December 31, 2020 and 2021. Martinez, Inc. Balance Sheet (Partial) December 31, 2020 December 31, 2021 Current Assets Dividend Receivable $ TA o $ 3180 Investments Equity Investments Save for Later Last saved 1 minute ago. Attempts: 1 of 3 used Submit Answer Saved work will be auto-submitted on the due date. AutoStep by Step Solution
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