In March of 2019, Boyet Corporation purchased nontrading equity investments which are irrevocably designated at FV-OCI. On December 31, 2019, the balance in the unrealized gain/(loss) on these securities was P200,000. During 2020, stock FF was sold for P1,100,000. Pertinent data on Dec. 31, 2020 are as follows: Cost Market Value DD P2,100,000 P1,600,000 EE 1,850,000 2,000,000 FF 1,050,000 900,000 In its statement of changes in stockholder's equity for the year 2020, Boyet should report unrealized holding loss at what amount?

At the end of 2018, Terry Company prepared the following schedule of investments in available-for-sale debt securities (all of which were acquired at par value): Company Amortized Cost 12/31/18 Fair Value Cumulative Change in Fair Value Morgan Company $35,000 $34,200 $(800) Nance Company 50,000 53,100 3,100 Totals $85,000 $87,300 $2,300 During 2019, the following transactions occurred: July 1 Purchased Oscar Company debt securities with a par value of 100,000 for $98,000. The securities carry an annual interest rate of 10%, mature on December 31, 2021, and pay interest seminannually on July 1 and December 31. Terry uses the straight-line method to amortize any discounts or premiums. Oct. 11 Sold all of the Morgan Company securities for $33,000 plus interest of $1,300. Dec. 31 Received interest of $6,000 on the Nance Company and Oscar Company debt securities, and the following yearend total market values were available: Nance Company debt securities, $55,000; Oscar…

Oriole, Inc. had the following equity investment portfolio at January 1, 2020. Evers Company   960 shares @ $ 14 each   $ 13,440   Rogers Company   880 shares @ $ 20 each   17,600   Chance Company   520 shares @ $ 10 each   5,200   Equity investments @ cost       36,240   Fair value adjustment       ( 7,300 ) Equity investments @ fair value       $ 28,940   During 2020, the following transactions took place. 1.   On March 1, Rogers Company paid a $ 2 per share dividend. 2.   On April 30, Oriole, Inc. sold  320 shares of Chance Company for $ 11 per share. 3.   On May 15, Oriole, Inc. purchased  100 more shares of Evers Company stock at $ 17 per share. 4.   At December 31, 2020, the stocks had the following price per share values: Evers $ 18, Rogers $ 19, and Chance $ 9. During 2021, the following transactions took place. 5.   On February 1, Oriole, Inc. sold the remaining Chance shares for $ 9 per share. 6.   On March 1, Rogers Company paid a $ 2…

On December 31, 2019, Novak Corp. provided you with the following pre-adjustment information regarding its portfolio of investments held for short-term profit-taking: Investments Moonstar Corp. shares Bilby Corp. shares. Radius Ltd. shares Total portfolio December 31, 2019 Carrying Amount $20,000 10,000 19,800 $49,800 Fair Value $18,800 8,900 20,400 $48,100 During 2020, the Bilby Corp. shares were sold for $9,500. The fair values of the securities on December 31, 2020, were as follows: Moonstar Corp. shares $19,900 and Radius Ltd. shares $20,300. The company does not recognize and report dividends and other components of investment gains and losses separately. Prepare the adjusting journal entry needed on December 31, 2019. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit

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Presented below is information related to the purchases of common stock by Marigold Company during 2025. Investment in Arroyo Company stock Investment in Lee Corporation stock Investment in Woods Inc. stock Total (a) (b) Cost Fair Value (at purchase date) (at December 31) $102,000 $84,000 314,000 259,000 (b) 184,000 (Assume a zero balance for any Fair Value Adjustment account at the beginning of 2025.) $545,000 No. Account Titles and Explanation (a) 193,000 $591,000 What entry would Marigold make at December 31, 2025, to record the investment in Arroyo Company stock if it chooses to report this security using the fair value option? What entry would Marigold make at December 31, 2025, to record the investments in the Lee and Woods corporations, assuming that Marigold did not select the fair value option for these investments? (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is…

Live Large Inc. had the following transactions involving non-strategic investments during 2020. 2020     Apr. 1   Paid $119,000 to buy a 90-day term deposit, $119,000 principal amount, 7.0%, dated April 1.   12   Purchased 4,900 common shares of Blue Balloon Ltd. at $22.50. June 9   Purchased 3,700 common shares of Purple Car Corp. at $51.50.   20   Purchased 1,650 common shares of Yellow Tech Ltd. at $16.00. July 1   Purchased for $86,894 a 9.0%, $84,000 Space Explore Inc. bond that matures in eight years when the market interest rate was 8.4%. Interest is paid semiannually beginning December 31, 2020. Live Large Inc. plans to hold this investment until maturity.   3   Received a cheque for the principal and accrued interest on the term deposit that matured on June 30.   15   Received a $0.95 per share cash dividend on the Blue Balloon Ltd. common shares.   28   Sold 2,450 of the Blue Balloon Ltd. common shares at $26.25. Sept. 1   Received a $3.00 per share cash…

On December 21, 2020, Grouper Company provided you with the following information regarding its equity investments. December 31, 2020 Investments (Trading)   Cost   Fair Value   Unrealized Gain (Loss) Clemson Corp. stock   $21,600   $20,700   $(900 ) Colorado Co. stock   10,700   9,600   (1,100 ) Buffaloes Co. stock   21,600   22,200   600   Total of portfolio   $53,900   $52,500   (1,400 ) Previous fair value adjustment balance           0   Fair value adjustment—Cr.           $(1,400 ) During 2021, Colorado Co. stock was sold for $10,140. The fair value of the stock on December 31, 2021, was Clemson Corp. stock—$20,790; Buffaloes Co. stock—$22,110. None of the equity investments result in significant influence. (a)   Prepare the adjusting journal entry needed on December 31, 2020. (b)   Prepare the journal entry to record the sale of the Colorado Co. stock during 2021. (c)   Prepare the adjusting journal entry needed on December 31,…

On December 21, 2020, Vaughn Company provided you with the following information regarding its equity investments. Securities   Cost   Fair Value   Unrealized Gain(Loss) SC Corp. stock   $43,300   39,520   $(3,780 ) True Co. stock   48,800   55,390   6,590   Plus, Inc. stock   30,200   29,882   (318 ) Total of portfolio   $122,300   $124,792   2,492   Previous fair value adjustment balance           -0-   Fair value adjustment – Dr.           $2,492   During 2021, the Plus, Inc. stock was sold for $30,750. The fair value of the stock on December 31, 2021, was: SC Corp. stock—$40,070; True Co. stock—$51,080. None of the equity investments result in significant influence.     Prepare the adjusting journal entry needed on December 31, 2020. (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.) Date Account Titles…

On December 21, 2020, Buffalo Company provided you with the following information regarding its equity investments. December 31, 2020 Investments (Trading)   Cost   Fair Value   Unrealized Gain (Loss) Clemson Corp. stock   $ 19,200   $ 18,300   $( 900 ) Colorado Co. stock   9,500   8,600   ( 900 ) Buffaloes Co. stock   19,200   19,800   600   Total of portfolio   $ 47,900   $ 46,700   ( 1,200 ) Previous fair value adjustment balance           0   Fair value adjustment—Cr.           $( 1,200 ) During 2021, Colorado Co. stock was sold for $ 9,150. The fair value of the stock on December 31, 2021, was Clemson Corp. stock—$ 18,400; Buffaloes Co. stock—$ 19,690. None of the equity investments result in significant influence. (a)   Prepare the adjusting journal entry needed on December 31, 2020. (b)   Prepare the journal entry to record the sale of the Colorado Co. stock during 2021. (c)   Prepare the adjusting journal entry needed on…