Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Stoll Co:'s long-term avallable-for-sale portfollo at December 31, 2014, consists of the following Avallable-for-Sale Securites 40,000 shares of Company A common stock 7,000 shares of

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Stoll Co:'s long-term avallable-for-sale portfollo at December 31, 2014, consists of the following Avallable-for-Sale Securites 40,000 shares of Company A common stock 7,000 shares of Company B common stock Cost Falr Value s 490,000 159,380 154.000 662,750 640,938 $ 535.300 17,500 shares of Company C common stock Stoll enters into the following long-term Investment transactions during year 2015. Jan. 29 Sold 3,500 shares of Company B common stock for $79,188 less a brokerage fee of $1.500. Apr, 17 Purchased 10,000 shares of Company W common stock for $197,500 plus a brokerage fee of July 6 Purchased 4,500 shares of Company X common stock for $126,562 plus a brokerage fee of $1,750, Aug 22 Purchased 50,000 shares of Company Y common stock for $375,000 plus a brokerage fee of Nov. 13 Purchased 8,500 shares of Company Z common stock for $267.900 plus a brokerage fee of Dec, 9 Sold 40 000 shares of Company A common stock for $515.000 less a brokerage fee of $4.100 $2,400 The shares represent a 30% ownership 'n Company w The shares represent a 10% ownership in Company X. $1.200. The shares represent a 51% ownership in Company Y $2.450 The shares represent a 5% ownership in Company Z 9 The falr volues of its investments at December 31, 2015, are: Falr Value 81375 S 610,312 W S 191.250 $ 118,125 YS 531 250 278,800

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing Principles Techniques And Practices

Authors: Mustaq Ahmad, Mohd Ashraf Ali

1st Edition

8184841949, 978-8184841947

More Books

Students also viewed these Accounting questions

Question

=+16.1. 13.91 Suppose that (12) Answered: 1 week ago

Answered: 1 week ago