[Key code here]
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1. 2014
Feb. 14
April 1
June 1
June 27
Dec. 31
Fair Value
Cost (Dec 31, 2014)
Apollo Inc.
Ares Co.
Total
Increase (decrease) in fair value
2015
Mar. 14
June 26
July 30
Dec. 31
2.
Current assets:
Trading investments (at cost)
Trading investments (at fair value)
3.
December 31, 2015
(Key essay answer here)
ZEUS INVESTMENTS
Balance Sheet (selected items)
0%
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Instructions
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Problem 13-2B
Name:
Section:
Score:
An asterisk (*) will appear to the right of an incorrect entry. The essay answer will not be graded.
1. 2014
Feb. 14 124,992
124,992
Less valuation allowance for trading investments
2.
Instructions
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Problem 13–2B
Name:
Section:
Solution
Score:
ON
Investments – Apollo Inc.
Cash
Balance Sheet (selected items)
December 31, 2015
ZEUS INVESTMENTS
Valuation Allowance for Trading Investments
Investments – Ares Inc.
Cash
Loss on Sale of Investments
Cash
Investments – Athena Inc.
Cash