70.2K

Verified Solution

Link Copied!

please help me

On December 31, 2021. the end of its first year of operation. Solland Aspocivtes owned the folowing vecuriets that are heid as iont: termi investments. On this date. tho total fair value of the securitics was equal ta its cost. The wecuraies are not held for infivense or contrdi oner the invegtees. in 2022. the following trancactions occurred. July. 1 Received $2.00 pee share sembnnual cashdididend oni D Co ceminori stock. Aus. 1 Recwived 9050 per share cash divisend on Co,commonstock. Sept. 1 sold 960 shares of Co commen stock for cash at 510 per whare. Qut. 1.50ld30 shares of C Co.common stock tor cash at $56 per share. Nov 1 Received $1 pershare cathidividend on ECa conmon wock Dec. 15 Precelved 50.50 per share cash dividend on CCo.common stock. July 1. Received 52.00 per sharesemianruasi cash dividend on D Co,conmion stock Aug 1. Received $0.50 per share cash dividend on CCo common stoek: Sept. 1 Sold 960 shares of D Co, common stock for cahn at 510 per share Oct. 1501d330 shares of C Co, comenon stock for ewh at $56 per share. Now. 1 Recelved $1 ber stare cash dividend on E Ca common stock, Dec. 15 Recerved 3050 per share cash dividend on C Co, common stock 31 Peceived $2.30 per share semianruat cash dividend on D Co. commonistock. At December 31. the fair values per share of the common wocks were C Ca. 549,D Ca. 56.50. and E Co 526 . These inistinenti should be classitied as long-term. July 1. Received 52.00 per sharesemianruasi cash dividend on D Co,conmion stock Aug 1. Received $0.50 per share cash dividend on CCo common stoek: Sept. 1 Sold 960 shares of D Co, common stock for cahn at 510 per share Oct. 1501d330 shares of C Co, comenon stock for ewh at $56 per share. Now. 1 Recelved $1 ber stare cash dividend on E Ca common stock, Dec. 15 Recerved 3050 per share cash dividend on C Co, common stock 31 Peceived $2.30 per share semianruat cash dividend on D Co. commonistock. At December 31. the fair values per share of the common wocks were C Ca. 549,D Ca. 56.50. and E Co 526 . These inistinenti should be classitied as long-term. Prepare the adjusting entry at December 31,2022 , to show the securities at fair value. 5 unland has less than a 29x owrentip Interest in all these comenoristocks IC Co. D CO, and ECa I (Credit occount tities are automatically indenter when the amount la entered. Do not indent manually. If no entyy is mquirtd. select "No Entry" for the gcopunt tities and ereer ofor the eriourat]

Answer & Explanation Solved by verified expert

See Answer