Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

thats the question On this date, the totalfair value of the securities was equal tolts cost. The securities are not held for influence or control

image text in transcribed
image text in transcribed
thats the question
On this date, the totalfair value of the securities was equal tolts cost. The securities are not held for influence or control over the investees, in 2022 , the following transactions occurred. July 1 Recelved $2.00 per share semiannual cash dividend on D Co.common stock. Aug. 1 Recelved S0.50 pershare cash dividend on Co. common stock. Sept. 1 Sold 1,020 shares of D Co. common stock for cashat $9 pershare. Oct. 1 Sold 274 shares of C Co. common stock for cash at $54 per share. Nov. 1 Received \$1 per share cash dividend on E Co. common stock. Dec. 15 Received \$0.50 per share cash dividend on C Ca.common stock. 31 Received \$2.30 per share semlannual cash dlvidend on D Co. cominon stock. At December 31 , the fair values per share of the commonstocks were C Co. $51. Do. $7.70. and E. Co. $24. These investments should be classified as long-term. Date Account Titles and Explanation Debit. Credit

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

Bank Strategy, Governance And Ratings

Authors: P. Molyneux

3rd Edition

0230313345, 9780230313347

More Books

Students also viewed these Accounting questions

Question

=+What are the outcomes?

Answered: 1 week ago