Twist Corp. had no short-term investments prior to year 2017. It had the following transactions involving short-term investments in available-for-sale securities during 2017.   For the Dec 31ST Adjustment Period what formula would I use? It's the only one that I can not figure out. Apr.   16   Purchased 5,000 shares of Lafayette Co. stock at $26 per share. July   7   Purchased 3,500 shares of CVF Co. stock at $51 per share.     20   Purchased 1,600 shares of Green Co. stock at $18 per share. Aug.   15   Received an $1.20 per share cash dividend on the Lafayette Co. stock.     28   Sold 3,000 shares of Lafayette Co. stock at $29 per share. Oct.   1   Received a $3.30 per share cash dividend on the CVF Co. shares. Dec.   15   Received a $1.40 per share cash dividend on the remaining Lafayette Co. shares.     31   Received a $2.70 per share cash dividend on the CVF Co. shares.

Midwest Bank invests in equity securities. At the beginning of December 2019, the bank held no equity securities. During December of 2019, it entered into the following transactions: Dec. 10 Purchased 600 shares of Carroll Company common stock for $75 per share. Dec. 21 Purchased 700 shares of Dynamo Company common stock for $34 per share.   At the end of December, the Carroll Company common stock had a quoted market price of $78 per share, and the Dynamo Company common stock had a quoted market price of $33 per share. Required: 1. Prepare journal entries to record the preceding information. 2. What is the unrealized holding gain or loss, and where is it reported in the 2019 financial statements? 3. Show how the bank reports the equity securities on its December 31, 2019, balance sheet. 4. Next Level If Midwest uses IFRS, how would the accounting be different from U.S. GAAP?

In January 2018, Janeway Inc. doubled the amount of itsoutstanding stock by selling on the market an additional10,000 shares to finance an expansion of the business. Youpropose that this information be shown by a footnote on thebalance sheet as of December 31, 2017. The president objects,claiming that this sale took place after December 31, 2017,and therefore should not be shown. Explain your position.

Midwest Bank invests in equity securities. At the beginning of December 2019, the bank held no equity securities. During December of 2019, it entered into the following transactions: Dec. 10 Purchased 500 shares of Carroll Company common stock for $76 per share. Dec. 21 Purchased 800 shares of Dynamo Company common stock for $34 per share.   At the end of December, the Carroll Company common stock had a quoted market price of $79 per share, and the Dynamo Company common stock had a quoted market price of $33 per share. Required: 1. Prepare journal entries to record the preceding information. 2. What is the unrealized holding gain or loss, and where is it reported in the 2019 financial statements? 3. Show how the bank reports the equity securities on its December 31, 2019, balance sheet.

3.The following data relates to Available for Sale Securities: Please Journalize all the entries required for this problem and then answer the question below. On December 1, 2007, a company purchased securities totaling $6,200. On December 31, 2007, the FMV of the securities was $5,300. On December 31, 2008, the FMV was $6,000. On December 31, 2009, the FMV was $3,200. Please use the blank journal paper that I have uploaded to the files section of Canvas for this class. The name of your accounts must have the correct names. Question: The unrealized loss or gains would appear on which financial statement?

ANSWER?

Midwest Bank invests in equity securities. At the beginning of December 2019, the bank held no equity securities. During December of 2019, it entered into the following transactions: Dec. 10  Purchased 400 shares of Carroll Company common stock for $75 per share. 21  Purchased 700 shares of Dynamo Company common stock for $30 per share.   At the end of December, the Carroll Company common stock had a quoted market price of $79 per share, and the Dynamo Company common stock had a quoted market price of $33 per share.   Question Journal entries to record the preceding information (pay attention to dates) would include:     Credit to Cash of $51,000     Credit to Unrealized Holding Gains/Losses - Equity Investments of $3,700     Credit to Equity Investments of $30,000     Credit to Fair Value Adjustment - Equity Investments of $3,700

Kristopher Company began operations in 2014. At 12/31/22, Kristopher had a debit balance of $25,000 in its Allowance for Adjustment to Market.   At January 1, 2022, Kristopher owned the following securities, accounted for using the fair value method.       Cost MJO Common (25,000 shares)   $550,000 JKH Preferred (1,900 shares)   199,500 EKH Common (7,500 shares)   82,500               During 2022 the following events occurred:   4/3/22              Sold 3,000 shares of MJO for $75,000. 9/6/22              Acquired 1,500 shares of  WVO Common for $25 per share.    At 12/31/22, the fair values for Kristopher’s securities were:               MJO Common, $24 per share             JKH Preferred, $103 per share             EKH Common, $13 per share             WVO Common, $27 per share   Required:   Prepare any journal entries required in 2022 to record the securities activity, including any required adjusting entries at 12/31/22. Show any calculations.…

On December 12, 2024, an Investment in equity securities costing $84,000 was sold for $108,000. The total of the sale proceeds was credited to the Investment in equity securities account Required: 1. Prepare the Journal entry to correct the error, assuming it is discovered before the books are adjusted or closed in 2024. (Ignore Income taxes.) 2. Prepare the journal entry to correct the error assuming It is not discovered until early 2025. (Ignore income taxes.)

The following information is available for Sheridan Company at December 31, 2025, regarding its investments. Securities Cost Fair Value 2,400 shares of Myers Corporation common stock $40,200 $48,200 900 shares of Cole Incorporated preferred stock 24,500 21,600 $64,700 $69,800 Prepare the adjusting entry (if any) for 2025, assuming no balance in the Fair Value Adjustment account at January 1, 2025. Neither of Sheridan's investments result in significant influence. Assume the securities as trading securities. (List debit entry before credit entry. 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 O for the amounts.)