Fair Value 500 shares of Keene Company common stock 30000 31000 1000 400 shares

Fair value 500 shares of keene company common stock

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Fair Value 500 shares of Keene Company common stock $ 30,000 $ 31,000 $ 1,000 400 shares of Bacon Company common stock 28,000 27,600 (400) 700 shares of Jackson Corp. common stock 31,500 32,200 700 300 shares of Quinn Company common stock 15,600 15,000 (600 ) Totals $105,100 $105,800 $ 700 $2,600 debit adjustment = $700 required ending debit balance + [$1,100 beginning credit balance + $800 credit adjustment (5/11/10)] 2. First Quarter 2010 Second Quarter 2010 Gain on sale of securities $ 800 Loss on sale of securities $ (400) Dividend revenue 2,500 Dividend revenue 2,800 3. Assets 3/31/10 6/30/10 Current assets:
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P15-5 1. 2010 Jan. 6 Cash 265 Dividend Revenue 265 Mar. 31 Cash 500 Dividend Revenue 500 31 Allowance for Change in Value of Investment 1,180* Unrealized Increase/Decrease in Value of Available-for-Sale Securities 1,180 Cumulative 3/31/10 Change in *Security Cost Fair Value Fair Value 400 shares of Turben Co. common stock $14,275 $13,470 $ (805) 500 shares of Cook Corp. common stock 12,650 13,765 1,115 700 shares of Hill Corp. common stock 17,450 18,940 1,490 200 shares of Web Engines preferred stock 19,100 15,500 (3,600 ) Totals $63,475 $61,675 $(1,800 ) $1,180 debit adjustment = $1,800 required ending credit balance - $2,980 ($63,475 - $60,495) beginning credit balance
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June 30 Cash ($375 + $700) 1,075 Dividend Revenue 1,075 30 Allowance for Change in Value of Investment 450* Unrealized Increase/Decrease in Value of Available-for-Sale Securities 450 Cumulative 6/30/10 Change in *Security Cost Fair Value Fair Value 400 shares of Turben Co. common stock $14,275 $13,300 $ (975) 500 shares of Cook Corp. common stock 12,650 14,125 1,475 700 shares of Hill Corp. common stock 17,450 19,300 1,850 200 shares of Web Engines preferred stock 19,100 15,400 (3,700 ) Totals $63,475 $62,125 $(1,350 )
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P15-5 (continued) 1. (continued) $450 debit adjustment = $1,350 required ending credit balance - $1,800 beginning credit balance July 6 Cash 13,750 Loss on Sale of Available-for-Sale Securities ($13,750 - $14,275) 525 Investment in Available-for-Sale Securities 14,275 6 Allowance for Change in Value of Investment 975 Unrealized Increase/Decrease in Value of Available-for-Sale Securities 975 Sept. 29 Cash 500 Dividend Revenue 500 30 Allowance for Change in Value of Investment 805* Unrealized Increase/Decrease in Value of Available-for-Sale Securities 805 Cumulative 9/30/10 Change in
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*Security Cost Fair Value Fair Value 500 shares of Cook Corp. common stock $12,650 $14,230 $ 1,580 700 shares of Hill Corp. common stock 17,450 19,500 2,050 200 shares of Web Engines preferred stock 19,100 15,900 (3,200 ) Totals $49,200 $49,630 $ 430 $805 debit adjustment = $430 required ending debit balance + [$1,350 beginning credit balance - $975 debit adjustment (7/6/10)] Nov. 2 Cash 19,780 Investment in Available-for-Sale Securities 17,450 Gain on Sale of Available-for-Sale Securities ($19,780 - $17,450) 2,330
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P15-5 (continued) 1. (continued) Nov. 2
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