P 13-3A verified from answer key

P 13-3A verified from answer key - P13-3A. On December 31,...

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P13-3A. On December 31, 2008, Ramey Associates owned the following securities, held as a long-term investment. The securities are not held for influence or control of the investee. 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. July 1 Received $1 per share semiannual cash dividend on Pine Co. common stock. Aug. 1 Received $0.50 per share cash dividend on Hurst Co. common stock. Sept. 1 Sold 1,500 shares of Pine Co. common stock for cash at $8 per share, less brokerage fees of $300. Oct. 1 Sold 800 shares of Hurst Co. common stock for cash at $33 per share, less brokerage fees of $500. Nov. 1 Received $1 per share cash dividend on Scott Co. common stock. Dec. 15 Received $0.50 per share cash dividend on Hurst Co. common stock. 31 Received $1 per share semiannual cash dividend on Pine Co. common stock. At December 31, the fair
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P 13-3A verified from answer key - P13-3A. On December 31,...

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