This preview shows pages 1–2. Sign up to view the full content.
This preview has intentionally blurred sections. Sign up to view the full version.View Full Document
Unformatted text preview: 11,735 Valuation Allowance for Trading Investments 11,735 Number of Shares Cost Per Share Fair Value per Share Total Fair Value Investment Total Cost Aspire Inc. 900 $41.15 $31.00 $37,035 $27,900 Quick Tyme Inc. 1,200 $14.20 $16.00 17,040 19,200 Titan Inc. 1,900 $35.20 $37.00 66,880 70,300 Total $120,955 $117,400 2. WESTERN CAPITAL INC. Balance Sheet (selected items) December 31, 2011 Current assets: Trading investments (at cost) $120,955 Less valuation allowance for trading investments 3,555 Trading investments (at fair value) $117,400 3. Number of Shares Cost Per Share Fair Value per Share Total Fair Value The unrealized loss on trading investments are disclosed on the financial statements of Western Capital Inc, by it is reported on the income statement as other income. Other income: unrealized loss on trading investments $11,735...
View Full Document
This note was uploaded on 05/28/2011 for the course ACCT 212 taught by Professor B during the Spring '11 term at St. Clair College.
- Spring '11