Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN: 9781337788281
Author: James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher: Cengage Learning
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Transcribed Image Text:Oriole Company has the following portfolio of trading investments at December 31, 2022.
Per Share
Investment
Quantity
Percent Interest
Cost
Market
Frank, Inc.
2,100 shares
8%
$11
$16
Ellis Corp.
5,400 shares
14%
23
19
Mendota Company
4,200 shares
2%
31
24
On December 31, 2023, Oriole's portfolio of trading investments consisted of the following investments.
Per Share
Investment
Ellis Corp.
Quantity
Percent Interest
Cost
Market
5,400 shares
14%
$23
$28
Mendota Company
4,200 shares
2%
31
23
Mendota Company
2,100 shares
1%
25
23
At the end of year 2023, Oriole Company changed the classification of its investment in Frank, Inc. to non-trading when
the shares were selling for $8 per share.
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