Ch._12 - June 30 Allowance to Adjust Short-Term Investments...

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Chapter 12, SE 1. 20x8 Dec. 31 Allowance to Adjust Short-Term Investments to Market 85,000 Unrealized Gain on Investments Recognition of unrealized gain on trading portfolio 20x9 Mar. 23 Cash 95,000 Realized Loss on Investments 5,000 Short-Term Investments Sale of 5,000 shares of Skyline at less than cost
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85,000 100,000
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Chapter 12, E 3. Jan. 6 Short-Term Investments 210,000 Cash 210,000 Purchase of Quaker Oats shares as trading securities 7,000 x $30 = $210,000 Feb. 15 Short-Term Investments 198,000 Cash 198,000 trading securities 9,000 x $22 = $198,000
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Unformatted text preview: June 30 Allowance to Adjust Short-Term Investments to Market 34,000 Unrealized Gain on Investments 34,000 Recognition of unrealized gain on trading portfolio Market Gain/ Security Cost Value (Loss) Quaker Oats ( 7,000 shares) $210,000 $280,000 $70,000 EG&G ( 9,000 shares) 198,000 162,000 ( 36,000) Totals $408,000 $442,000 $34,000 Aug. 20 Cash 144,000 Realized Loss on Investments 54,000 Short-Term Investments 198,000 Sale of 9,000 shares of EG&G at less than cost This entry is not affected by the adjusting entry on June 30....
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This note was uploaded on 09/21/2010 for the course ACC 303 taught by Professor Mccarthy during the Spring '10 term at DePaul.

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Ch._12 - June 30 Allowance to Adjust Short-Term Investments...

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