Required information Problem 15-3A Recording, adjusting, and reporting long-term

Question

Required information Problem 15-3A Recording, adjusting, and reporting long-term available-for-sale securities LO P3 The following information applies to the questions displayed below Grass Security, which began operations in 2017, invests in long-term available-for-sale securities. Following is a series of transactions and events determining its long-term investment activity 2017 Jan. 28 Purchased 2,780 shares of Johnson& Johnson at $22.20 per share plus a $410 commission. Feb. 9 Purchased 2,980 shares of Sony at $47.90 per share plus a $395 commission. June 12 Purchased 3,280 shares of Mattel at $28.79 per share plus a $365 comission. Dec. 31 Per share fair values for stocks in the portfolio are Johnson & Johnson, $23.20; Mattel, $32.68; and Sony, $39.70. 2018 Apr. 15 Sold 2,788 shares of Johnson & Johnson at $25.20 per share less a $695 commission. July 5 Sold 3,200 shares of Mattel at $25.68 per share less a $485 commission. July 22 Purchased 2,300 shares of Sara Lee at $24.20 per share plus a $650 commission. Aug. 19 Purchased 2,600 shares of Eastman Kodak at $18.70 per share plus a $368 commission. Dec. 31 Per share fair values for stocks in the portfolio are: Kodak, $20.95; Sara Lee, $21.70; and Sony, S$36.70 2019 Feb. 27 Purchased 4,100 shares of Microsoft at $68.70 per share plus a $695 commission. June 21 Sold 2,900 shares of Sony at $49.70 per share less a(n) $1,058 commission. June 38 Purchased 3,100 shares of Black & Decker at $37.70 per share plus a $68s commission. Aug. 3 Sold 2,300 shares of Sara Lee at $17.95 per share less a $605 commission. Nov. 1 Sold 2,688 shares of Eastman Kodak at $24.45 per shane less a(n) $795 commission Dec. 31 Per share fair values for stocks in the portfolio are: Black & Decker, $48.70: and Microsoft, $78.70. KIlPrev 10 of 10

Explanation / Answer

Working

Realised Gain / Loss 2017 2018 2019 Sale of Johnson & Johanson 4705 Sale of Mattel -22805 Sale of Sara Lee -9230 Sale of Sony 36650 Sale of Kodak 8305 Realised Gain / Loss 0 -18100 35725

Related Questions

Navigate

• Browse (All)
• Browse R
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.