Available for Sale GL

Available for Sale GL - On November 18, 2011, Colbert...

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Unformatted text preview: On November 18, 2011, Colbert AmeriCone Inc. purchased 15,000 shares (less than 1% interest) of the common stock of Morimoto Iron Works Inc. at $28.20 per share and incurred a $300 broker’s fee. 11/18 Equity Trading Securities 423,300 Cash 423,300 11/18 Available-for-Sale Equity Securities 423,300 Cash 423,300 On December 31, 2011, Colbert AmeriCone Inc. determined that the common stock of Morimoto Iron Works Inc. sold at closing price of $27.50 per share. This is the only investment held by the Company. 12/31 Unrealized Holding Loss (TS) 10,800 Fair Value Adjustment Allowance 10,800 Closed to R/E (10,800) (2,880) relating to the 4,000 shs 12/31 Unrealized Holding Loss (AFS) 10,800 Fair Value Adjustment Allowance 10,800 Closed to AOCI (10,800) (2,880) relating to the 4,000 shs On April 9, 2012, Colbert AmeriCone Inc. sold 4,000 shares of the common stock of Morimoto Iron Works Inc. On April 9, 2012, Colbert AmeriCone Inc....
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This note was uploaded on 04/03/2012 for the course BUS 402 taught by Professor Joshephd'adamo during the Fall '09 term at Rhode Island.

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Available for Sale GL - On November 18, 2011, Colbert...

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