User Account

All Pages

Determine the amount stoll reports on its balance sheet

Assignment Help Accounting Basics
Reference no: EM132592494

Question - Stoll Co.'s long-term available-for-sale portfolio at the start of this year consists of the following.

Available-for-Sale Securities Cost Fair Value Company A bonds $535,300 $490,000 Company B notes 159,380 154,000 Company C bonds 662,750 640,940

Stoll enters into the following transactions involving its available-for-sale debt securities this year.

Jan. 29 Sold one-half of the Company B notes for $79,200.July 6 Purchased bonds of Company X for $126,600.Nov. 13 Purchased notes of Company Z for $267,900.Dec. 9 Sold all of the bonds of Company A for $515,000.

The fair values at December 31 are B, $81,000; C, $610,000; X, $118,000; and Z, $278,000.

Required -

1. Prepare journal entries to record these transactions, including the December 31 adjusting entry to record the fair value adjustment for the long-term investments in available-for-sale securities.

2. Determine the amount Stoll reports on its December 31 balance sheet for its long-term investments in available-for-sale securities.

Reference no: EM132592494

Questions Cloud

Describe experience-based situational interview questions : Chapter 6 describes experience-based situational interview questions in which a candidate must describe how he or she handled a specific type of situation.
How much of the annual payment is interest : How much of the annual payment is interest, and how much principal is there in each annual payment?
What does the term vegetarian mean : In the United States, 32% of adults eat a vegetarian diet (Vegetarianism in America, n.d.). What does the term "vegetarian" mean?
How has the development of the internet : How has the development of the internet affected the way companies forecast in support of their supply chain planning process?
Determine the amount stoll reports on its balance sheet : Determine the amount Stoll reports on its December 31 balance sheet for its long-term investments in available-for-sale securities
Theory of constraints : Is the Theory of Constraints more suitable for existing processes or better for ideas that can be incorporated into the design of new processes?
Identify all countries that might be associated with risk : Identify all countries that might be associated with the risk. Evaluate the role of ethical decision-making in business organizations as the role pertains.
Patent race between firm r and firm s : Consider a patent race between Firm R and Firm S. Suppose that the patent is worth $25.
Explain psychology schools in reflective and critical way : Through this activity, you will learn to identify, research, and explain psychology schools in a reflective and critical way.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd