Concord Company has the following securities in its investment portfolio on December 31, 2020 (all securities were purcha 2020): (1) 3,100 shares of Anderson Co. common stock which cost $62,00O, (2) 10,500 shares of Munter Ltd. common stock cost $609,000, and (3) 6,200 shares of King Company preferred stock which cost $266,600. The Fair Value Adjustment acco a credit of $9,300 at the end of 2020. In 2021, Concord completed the following securities transactions. 1. On January 15, sold 3,100 shares of Anderson's common stock at $22 per share less fees of $2,190. 2. On April 17, purchased 1,000 shares of Castle's common stock at $33 per share plus fees of $1,990.
Concord Company has the following securities in its investment portfolio on December 31, 2020 (all securities were purcha 2020): (1) 3,100 shares of Anderson Co. common stock which cost $62,00O, (2) 10,500 shares of Munter Ltd. common stock cost $609,000, and (3) 6,200 shares of King Company preferred stock which cost $266,600. The Fair Value Adjustment acco a credit of $9,300 at the end of 2020. In 2021, Concord completed the following securities transactions. 1. On January 15, sold 3,100 shares of Anderson's common stock at $22 per share less fees of $2,190. 2. On April 17, purchased 1,000 shares of Castle's common stock at $33 per share plus fees of $1,990.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter6: Cash And Receivables
Section: Chapter Questions
Problem 9RE: Refer to RE6-8. On April 23, 2020, McKinncy Co. receives a check, from Mangold Corporation for...
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The procedure of entering commercial transactions for the first time in the books of accounts is known as journal entry. Adjusting entries, closing entries, and regular entries are examples of diary entries. Journal entries serve as the foundation for further accounting tasks such as ledger account preparation, trial balances, financial statements, and so on. The initial, meticulous recording of all monetary business transactions is called a journal entry. They are listed in chronological sequence based on the date of the incident. Adjusting entries, closing entries, and regular entries are examples of diary entries.
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