Rose Company had no short-term investments prior to this year. It had the following transactions this year involving short-term stock investments with insignificant influence.April 16 Purchased 3,500 shares of Gem Company stock at $24 per share.July 7Purchased 2,000 shares of PepsiCo stock at $49 per share.Purchased 1,000 shares of Xerox stock at $16 per share.July 20August 15 Received a $1.00 per share cash dividend on the Gem Company stock.August 28 Sold 2,000 shares of Gem Company stock at $30 per share.share cash dividend on the PepsiCo shares.October 1 Received a $2.50 perDecember 15 Received a $1.00 per share cash dividend on the remaining Gem Company shares.December 31 Received a $1.50 per share cash dividend on the PepsiCo shares.The year-end fair values per share are Gem Company, $26; PepsiCo, $46; and Xerox, $13.2. Prepare a table to compare the year-end cost and fair values of Rose's short-term stock investments.Comparison of Cost and Fair Values for Stock Investments Portfolio at Year-EndCostFair ValueGem CompanyPepsiCoXeroxTotalUnrealizedAmount

Short-term investments - are investments or securities which are held for a temporary period i.e,…

Answered: Rose Company had no short-term…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

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Chapter14: Corporation Accounting

Section: Chapter Questions

Problem 20EA: Longmont Corporation earned net income of $90,000 this year. The company began the year with 600...

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Errol Corporation earned net income of $200,000 this year. The company began the year with 10,000 shares of common stock and issued 5,000 more on April 1. They issued $7,500 in preferred dividends for the year. What is the numerator of the EPS calculation for Errol?
Longmont Corporation earned net income of $90,000 this year. The company began the year with 600 shares of common stock and issued 500 more on April 1. They issued $5,000 in preferred dividends for the year. What is the numerator of the EPS calculation for Longmont?
Rose Company had no short-term investments prior to this year. It had the following transactions this year involving short-term stock investments with insignificant influence. Apr. 16 Purchased 3,500 shares of Gem Co. stock at $24 per share. July 7 Purchased 2,000 shares of PepsiCo stock at $49 per share. 20 Purchased 1,000 shares of Xerox stock at $16 per share. Aug. 15 Received a $1.00 per share cash dividend on the Gem Co. stock. 28 Sold 2,000 shares of Gem Co. stock at $30 per share. Oct. 1 Received a $2.50 per share cash dividend on the PepsiCo shares. Dec. 15 Received a $1.00 per share cash dividend on the remaining Gem Co. shares. 31 Received a $1.50 per share cash dividend on the PepsiCo shares. Required 1. Prepare journal entries to record the preceding transactions and events. 2. Prepare a table to compare the year-end cost and fair values of Rose’s short-term stock investments. The year-end fair values per share are Gem Co., $26; PepsiCo, $46; and Xerox, $13. 3. Prepare an…
Rose Company had no short-term investments prior to this year. It had the following transactions this year involving short- term stock investments with insignificant influence. April 16 Purchased 3,500 shares of Gem Company stock at $24 per share. July 7 Purchased 2,000 shares of PepsiCo stock at $49 per share. Purchased 1,000 shares of Xerox stock at $16 per share. July 20 August 15 Received a $1.00 per share cash dividend on the Gem Company stock. August 28 Sold 2,000 shares of Gem Company stock at $30 per share. $2.50 per share cash dividend on the PepsiCo shares. October 1 Received a December 15 Received a $1.00 per share cash dividend on the remaining Gem Company shares. dividend on the PepsiCo shares. December 31 Received a $1.50 per share cash The year-end fair values per share are Gem Company, $26; PepsiCo, $46; and Xerox, $13.
Rose Company had no short-term investments prior to this year. It had the following transactions this year involving short- term stock investments with insignificant influence. April 16 Purchased 3,500 shares of Gem Company stock at $24 per share. Purchased 2,000 shares of PepsiCo stock at $49 per share. July 7 July 20 Purchased 1,000 shares of Xerox stock at $16 per share. August 15 Received a $1.00 per share cash dividend on the Gem Company stock. August 28 Sold 2,000 shares of Gem Company stock at $30 per share. October 1 Received a $2.50 per December 15 Received a $1.00 per share cash dividend on the PepsiCo shares. share cash dividend on the remaining Gem Company shares. December 31 Received a $1.50 per share cash dividend on the PepsiCo shares. The year-end fair values per share are Gem Company, $26; PepsiCo, $46; and Xerox, $13. 5. Identify the dollar increase or decrease from Rose's short-term stock investments on (a) its income statement for this year and (b) the equity…
Rose Company had no short-term investments prior to this yearIt had the following transactions this year involving short- term stock Investments with insignificant influence. April 16 Purchased 6,000 shares of Gem Company stock at $25.75 per share. July 7 Purchased 3,000 shares of PepsiCo stock at $46.00 per share. July 20 Purchased 1,500 shares of Xerox stock at $19.00 per share. August 15 Received a 8.95 per share cash dividend on the Gem Company stock. August 28 Sold 3,000 shares of Company stock at $32.50 per share. October 1 Received a $2.00 per share cash dividend on the PepsiCo shares. December 15 Received a $1.10 per share cash dividend on the remaining Gem Company shares. December 31 Received a $1.30 per share cash dividend on the PepsiCo shares. The year-end fair values per share are Gem Company$28.00 PepsiCo, 43.25and Xerox, $16.00 Required: Prepare journal entries to record the preceding transactions and events.
Rose Company had no short-term investments prior to this year. It had the following transactions this year involving short-term stock investments with insignificant influence. April 16 Purchased 3,500 shares of Gem Company stock at $24 per share. July 7 Purchased 2,000 shares of PepsiCo stock at $49 per share. July 20 Purchased 1,000 shares of Xerox stock at $16 per share. August 15 Received a $1.00 per share cash dividend on the Gem Company stock. August 28 Sold 2,000 shares of Gem Company stock at $30 per share. October 1 Received a $2.50 per share cash dividend on the PepsiCo shares. December 15 Received a $1.00 per share cash dividend on the remaining Gem Company shares. December 31 Received a $1.50 per share cash dividend on the PepsiCo shares. The year-end fair values per share are Gem Company, $26; PepsiCo, $46; and Xerox, $13. 4. Prepare the current asset section of the balance sheet for the fair value adjustment for Rose’s short-term investments.
Rose Company had no-short investments prior to this year. It had the following transactions this year involving short-term stock investments with insignificant influence. April 16 Purchased 3,500 shares of Gem Company stock at $24 per share. July 7 Purchased 2,000 shares of PepsiCo stock at $49 per share. July 20 Purchased 1,000 shares of Xerox stock at $16 per share. August 15 Received a $1.00 per share cash dividend on the PepsiCo shares. August 28 Sold 2,000 shares of Gem Company stock at $30 per share. October 1 Received a $2.50 per share cash dividend on the PepsiCo shares. December 15 Received a $1.00 per share cash dividend on the remaining Gem Company shares. December 31 Received a $1.50 per share cash dividend on the pepsi shares. The year-end fair values per share are Gem Company, $26; PepsiCo, $46; and Xerox, $13. Prepare the current asset section of the balance sheet for the fair value adjustment for Rose's short-term investments. Note: Amounts to be deducted should be…
Slip Systems had no short-term investments prior to this year. It had the following transactions this year involving short-term stock investments with insignificant influence. Feb. 6 Purchased 3,400 shares of Nokia stock at $41 per share. Apr. 7 Purchased 1,200 shares of Dell stock at $39 per share. June 2 Purchased 2,500 shares of Merck stock at $72 per share. 30 Received a $1.00 per share cash dividend on the Nokia shares. Aug. 11 Sold 850 shares of Nokia stock at $46 per share. 24 Received a $0.10 per share cash dividend on the Dell shares. Nov. 9 Received a $1.50 per share cash dividend on the remaining Nokia shares. Dec. 18 Received a $0.15 per share cash dividend on the Dell shares. Required 1. Prepare journal entries to record the preceding transactions and events. 2. Prepare a table to compare the year-end cost and fair values of the short-term stock investments. The year-end fair values per share are Nokia, $40; Dell, $41; and Merck, $59. 3. Prepare an adjusting entry, if…
Eco Corporation had no short-term investments prior to this year. It had the following transactions this year involving short-term stock investments with insignificant influence. April 16 Purchased 4,000 shares of Ontario Company stock at $26 per share. July 7 Purchased 2,500 shares of Van Company stock at $51 per share. July 20 Purchased 1,200 shares of Twinings Company stock at $18 per share. August 15 Received an $1.00 per share cash dividend on the Ontario Company stock. August 28 Sold 2,400 shares of Ontario Company stock at $29 per share. October 1 Received a $3.10 per share cash dividend on the Van Company shares. December 15 Received a $1.20 per share cash dividend on the remaining Ontario Company shares. December 31 Received a $2.50 per share cash dividend on the Van Company shares.
[The following information applies to the questions displayed below.] Rose Company had no short-term investments prior to this year. It had the following transactions this year involving short- term stock investments with insignificant influence. April 16 Purchased 3,500 shares of Gem Company stock at $24 per share. Purchased 2,000 shares of PepsiCo stock at $49 per share. July 7 July 20 Purchased 1,000 shares of Xerox stock at $16 per share. August 15 Received a $1.00 per share cash dividend on the Gem Company stock. August 28 Sold 2,000 shares of Gem Company stock at $30 per share. October 1 Received a $2.50 per share cash dividend on the PepsiCo shares. December 15 Received a $1.00 per share cash dividend on the remaining Gem Company shares. December 31 Received a $1.50 per share cash dividend on the PepsiCo shares. The year-end fair values per share are Gem Company, $26; PepsiCo, $46; and Xerox, $13. 4. Prepare the current asset section of the balance sheet for the fair value…
Based on the following infromation what would the general journal entries look like, BGJ Corporation had no short-term investments prior to this year. It had the following transactions this year involving short-term stock investments with insignificant influence. April 16 Purchased 4,500 shares of OnPoint Company stock at $30 per share. July 7 Purchased 3,000 shares of Eco Company stock at $55 per share. July 20 Purchased 1,400 shares of Lafayette Company stock at $22 per share. August 15 Received an $1.10 per share cash dividend on the OnPoint Company stock. August 28 Sold 2,700 shares of OnPoint Company stock at $33 per share. October 1 Received a $5.20 per share cash dividend on the Eco Company shares. December 15 Received a $1.30 per share cash dividend on the remaining OnPoint Company shares. December 31 Received a $4.60 per share cash dividend on the Eco Company shares.

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