Question
Stoll Co.s long-term available-for-sale portfolio at December 31, 2012, consists of the following. Available-for-Sale Securities Cost Fair Value 55,000 shares of Company A common stock
Stoll Co.s long-term available-for-sale portfolio at December 31, 2012, consists of the following. |
Available-for-Sale Securities | Cost | Fair Value | ||||
55,000 shares of Company A common stock | $ | 1,043,600 | $ | 910,000 | ||
36,000 shares of Company B common stock | 346,750 | 336,000 | ||||
38,000 shares of Company C common stock | 1,374,500 | 1,323,875 | ||||
Stoll enters into the following long-term investment transactions during year 2013. |
Jan. | 29 | Sold 18,000 shares of Company B common stock for $172,375 less a brokerage fee of $2,900. | |
Apr. | 17 | Purchased 22,000 shares of Company W common stock for $465,000 plus a brokerage fee of $3,500. The shares represent a 30% ownership in Company W. | |
July | 6 | Purchased 12,000 shares of Company X common stock for $260,125 plus a brokerage fee of $3,500. The shares represent a 10% ownership in Company X. | |
Aug. | 22 | Purchased 100,000 shares of Company Y common stock for $630,000 plus a brokerage fee of $8,300. The shares represent a 51% ownership in Company Y. | |
Nov. | 13 | Purchased 16,000 shares of Company Z common stock for $526,800 plus a brokerage fee of $6,300. The shares represent a 5% ownership in Company Z. | |
Dec. | 9 | Sold 55,000 shares of Company A common stock for $1,029,500 less a brokerage fee of $4,100. |
The fair values of its investments at December 31, 2013, are: |
Fair Value | ||
B | $ | 169,750 |
C | $ | 1,227,625 |
W | $ | 389,500 |
X | $ | 243,250 |
Y | $ | 1,069,500 |
Z | $ | 564,600 |
Determine the amount Stoll should report on its December 31, 2013, balance sheet for its long-term investments in available-for-sale securities. |
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