Copy of 16p-3a - Name Instructor Accounting Principles...

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FileName: 56e16f1f3c445ac26eeaa78c140a263afb1cc7db.xls, Tab: Problem P16-3A, Page 1 of 3, 04/15/2010, 07:05:16 Name: Date: Instructor: Course: Common Stock: Shares: Cost: Hurst Co. 2,000 $60,000 Pine Co. 5,000 45,000 Scott Co. 1,500 30,000 On December 31, 2008, the total fair value of the securities was equal to its cost. In 2009, the following transactions occurred. 7/1/09 Received $1.00 per share semiannual cash dividednds on Pine Co. common stock. 8/1/09 Received $0.50 per share cash dividend on Hurst Co. common stock. 9/1/09 Sold 1,500 shares of Pine Co. common stock for cash at $ $8 per share, less brokerage fees of $300.00 10/1/09 Sold 800 shares of Hurst Co. common stock for cash at $ $33 per share, less brokerage fees of $500.00 11/1/09 Received $1.00 per share cash dividednds on Scott Co. common stock. 12/15/09 Received $0.50 per share cash dividednds on Hurst Co. common stock. 12/31/09 Received $1.00 per share semiannual cash dividednds on Pine Co. common stock. At December 31, the fair values per share of the common stocks were: Hurst Co. $32.00 Pine Co. $8.00 Scott Co. $18.00 Instructions: Jul 1, 09 Cash 5,000 Dividend revenue 5,000 Aug 1, 09 Cash 1,000 Dividend revenue 1,000 Sep 1, 09 Cash 11,700 Loss on sale 1,800 Investments 13,500 Oct 1, 09 Cash 25,900 Investment 24,000 Gain on sale 1,900 Nov 1, 09 Cash 1,500 Dividend revenue 1,500 Dec 15, 09 Cash 600 Dividend revenue 600 Dec 31, 09
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