Fair Value Journal Entries, Available-for-Sale Investments Storm, Inc. purchased the following available-for-sale securities during Year 1, its first year of operations: Name Number of Shares Total Cost Dust Devil, Inc. 1,400 $39,480 Gale Co. 200 14,220 Whirlwind Co. 2,100 67,200 Total $120,900 The market price per share for the available-for-sale security portfolio on December 31, Year 1 was as follows: Market Price per Share Dec. 31, Year 1

Fair Value Journal Entries, Available-for-Sale Investments Storm, Inc. purchased the following available-for-sale securities during Year 1, its first year of operations: Name Number of Shares Total Cost Dust Devil, Inc. 1,400 $39,480 Gale Co. 200 14,220 Whirlwind Co. 2,100 67,200 Total $120,900 The market price per share for the available-for-sale security portfolio on December 31, Year 1 was as follows: Market Price per Share Dec. 31, Year 1

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter15: Investments And Fair Value Accounting

Section: Chapter Questions

Problem 20E: The investments of Steelers Inc. include a single investment: 33,100 shares of Bengals Inc. common...

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