Show the balance sheet presentationof the investments at December 31,2019.At this date,Ramey Associates has common stock TK.15,00,000 and retained earnings TK.10,00,000. (b) On December 31, 2018, Ramey Associates owned the following Securities, held as a long terminvestment. The securities are not held for influence or control of the investee.Common StockShareCostHurst co.1.000TK.60,000Pine co.3,000TK.45,000Scott co.500TК. 30,000On December 31,2010,the total fair value of the securities was equal to its cost.In 2019,the followingtransactions occurred.July 1 Received Tk. 2 per share semiannual cash dividend on pine co. common stock.Aug 1 Received $0.50 per share cash dividend on Hurst co. common stock.Sep. 1 Sold 1,500 shares of Pine Co. common stock for cash at TK.17Oct. 1 Sold 200 shares of Hurst co. common stock for cash at TK.58Nov. 1 Received $1 per cash dividend on scott co. common stock.31 Received $1 per share semiannual cash dividend on pine o. common stock.At December 31,the fair values per share of the common stocks were:Hurst co. TK.62,Pine co.TK.14 andScott Co.TK.59

In the above question we have asked to show investment presentation in Balance sheet as on 31…

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Show the balance sheet presentationof the investments at December 31,2019.At this date,Ramey Associates has common stock TK.15,00,000 and retained earnings TK.10,00,000.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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