Entries for equity investment of between 20%–50% ownership Glacier Products Inc. is a wholesaler of rock climbing gear. The company began operations on January 1, 20Y3. The following transactions relate to securities acquired by Glacier Products Inc., which has a fiscal year ending on December 31, 20Y3: 20Y3 Jan. 25 Purchased 44,000 shares of Helsi Co. common stock for $760,000. There are 110,000 shares of Helsi Co. stock outstanding. Dec. 31 Received $23,000 of cash dividends on Helsi Co. stock. Helsi Co. reported net income of $95,000 in 20Y3. Required: 1.  Journalize the entries to record the preceding transactions. If an amount box does not require an entry, leave it blank. 2.  Should Glacier Product Inc.’s investment in Helsi Co. be reported at fair value on its financial statements for the year ending December 31, 20Y3?

Fair Value Journal Entries, Available-for-Sale Investments The investments of Steelers Inc. include a single investment: 8,900 shares of Bengals Inc. common stock purchased on September 12, Year 1, for $8 per share including brokerage commission. These shares were classified as available-for-sale securities. As of the December 31, Year 1, balance sheet date, the share price declined to $6 per share. a. Journalize the entries to acquire the investment on September 12 and record the adjustment to fair value on December 31, Year 1. Year 1 Sept. 12 Year 1 Dec. 31 b. How is the unrealized gain or loss for available-for-sale investments disclosed on the financial statements? Unrealized Gain (Loss) on Available-for-Sale Investments is reported in the of the

Rios Financial Co. is a regional insurance company that began operations on January 1, Year 1. The following transactions relate to trading securities acquired by Rios Financial Co., which has a fiscal year ending on December 31: Record these transactions on page 10: Year 1     Feb. 1. Purchased 4,700 shares of Caldwell Inc. as a trading security at $36 per share plus a brokerage commission of $470. May 1. Purchased 1,800 shares of Holland Inc. as a trading security at $48 plus a brokerage commission of $198. July 1. Sold 2,440 shares of Caldwell Inc. for $34 per share less a $105 brokerage commission.   31. Received an annual dividend of $0.35 per share on Caldwell Inc. stock. Dec. 31. The portfolio of trading securities was adjusted to fair values of $34 and $47 per share for Caldwell Inc. and Holland Inc., respectively.   Record these transactions on page 11: Year 2     Apr. 1. Purchased 3,500 shares of Fuller Inc. as a trading security at $31…

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Rios Financial Co. is a regional insurance company that began operations on January 1, Year 1. The following transactions relate to trading securities acquired by Rios Financial Co., which has a fiscal year ending on December 31: Record these transactions on page 10: Year 1     Feb. 1. Purchased 7,500 shares of Caldwell Inc. as a trading security at $50 per share plus a brokerage commission of $75. May 1. Purchased 3,000 shares of Holland Inc. as a trading security at $42 plus a brokerage commission of $90. July 1. Sold 4,500 shares of Caldwell Inc. for $46 per share less a $110 brokerage commission.   31. Received an annual dividend of $0.50 per share on Caldwell Inc. stock. Dec. 31 The portfolio of trading securities was adjusted to fair values of $47 and $40 per share for Caldwell Inc. and Holland Inc., respectively.   Record these transactions on page 11: Year 2     Apr. 1. Purchased 5,000 shares of Fuller Inc. as a trading security at $25…

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Rios Co. is a regional insurance company that began operations on January 1, 2012. The following selected transactions relate to investments acquired by Rios Co., which has a fiscal year ending on December 31: Record these transactions on page 10: 20Y2 Feb. May July 1 Purchased 7,400 shares of Caldwell Inc. common stock at $38 per share plus a brokerage commission of $740. Caldwell has 100,000 shares of common stock outstanding. 1 Purchased securities of Holland Inc. as a trading investment for $93,687. 1 Sold 3,850 shares of Caldwell Inc. for $36 per share less a $105 brokerage commission. 31 Received an annual dividend of $0.25 per share on 3,550 shares of Caldwell Inc. stock. Nov. 15 Sold the remaining shares of Caldwell Inc. for $39 per share less a $85 brokerage commission. Dec. 31 The trading securities of Holland Inc. have a fair value on December 31 of $84,345. Record these transactions on page 11: 20Y3 Apr. 1 Purchased securities of Fuller Inc. as a trading investment for…

Rios Co. is a regional insurance company that began operations on January 1, 20Y2. The following selected transactions relate to investments acquired by Rios Co., which has a fiscal year ending on December 31: Record these transactions on page 10: 20Y2     Feb. 1 Purchased 6,600 shares of Caldwell Inc. common stock at $43 per share plus a brokerage commission of $660. Caldwell has 100,000 shares of common stock outstanding. May 1 Purchased securities of Holland Inc. as a trading investment for $82,998. July 1 Sold 3,430 shares of Caldwell Inc. for $41 per share less a $115 brokerage commission.   31 Received an annual dividend of $0.25 per share on 3,170 shares of Caldwell Inc. stock. Nov. 15 Sold the remaining shares of Caldwell Inc. for $44 per share less a $95 brokerage commission. Dec. 31 The trading securities of Holland Inc. have a fair value on December 31 of $74,343.   Record these transactions on page 11: 20Y3     Apr. 1 Purchased…