Quiz1B[1] - Quiz 1B 1. 2. (1) ($ in millions) 2009 March 1...

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Quiz 1B 1. 2. (1) ($ in millions) 2009 March 1 Investment in Platinum Gems, Inc. shares 124 Cash 124 April 13 Investment in Oracle bonds 200 Cash 200 July 20 Cash 3 Investment revenue 3 October 13 Cash 10 Investment revenue 10 October 14 Cash 205 Investment in Oracle bonds 200 Gain on sale of investments 5
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November 1 Investment in SPI preferred shares 40 Cash 40 December 31, 2009($ in millions) Unrealized Available-for-Sale Securities Cost Fair Value Gain (Loss) Platinum Gems, Inc. shares $124 $128* $4 SPI preferred shares 40 37** (3) Totals $164 $165 $1 * $64 x 2 million shares ** $74 x 500,000 shares Adjusting entry: Fair value adjustment ($165 – 164) 1 Net unrealized holding gains and losses -- OCI ($165 – 164) 1 2010 ($ in millions) January 23 Cash ([2 million shares x 1/2] x $65) 65 Gain on sale of investments (difference) 3 Investment in Platinum Gems shares ($124 million balance after adjusting entry x 1/2) 62 March 1 Cash ($78 x 500,000 shares) 39 LOSS on sale of investments (difference)
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This note was uploaded on 05/11/2010 for the course 3241 1241 taught by Professor 51231 during the Spring '10 term at École Normale Supérieure.

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Quiz1B[1] - Quiz 1B 1. 2. (1) ($ in millions) 2009 March 1...

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