Unlock document.
This document is partially blurred.
Unlock all pages and 1 million more documents.
Get Access
[Key code here]
An asterisk (*) will appear to the right of an incorrect entry. The essay answer will not be graded.
1. 2016
Mar. 14
April 24
June 1
June 30
Dec. 31
Cost Fair Value
Wilkomm Inc.
McMarsh Inc.
Total
Increase (decrease) in fair value
2015
April 4
June 28
Sept. 9
Dec. 31
2.
Problem 13-2A
Name:
Section:
Score:
0%
Key Code:
Instructions
Answers are entered in the cells with gray backgrounds.
Cells with non-gray backgrounds are protected and cannot be edited.
SCOFIELD FINANCIAL CO.
Balance Sheet (selected items)
Current assets:
Trading investments (at cost)
Plus valuation allowance for trading investments
Trading investments (at fair value)
3.
December 31, 2017
(Key essay answer here)
An asterisk (*) will appear to the right of an incorrect entry. The essay answer will not be graded.
1. 2016
Mar. 14 200,500
200,500
April 24 90,198
90,198
June 1 98,700
5,560
Cost Fair Value
Wilkomm Inc. 96,240$ 91,200$
McMarsh Inc. 90,198 88,200
Total 186,438$ 179,400$
Increase (decrease) in fair value
(7,038)$
2017
April 4 105,175
105,175
2.
Investments - Wilkomm Inc.
Balance Sheet (selected items)
Cash
Investments - Daley Inc.
SCOFIELD FINANCIAL CO.
Problem 13-2A
Name:
Section:
Solution
Answers are entered in the cells with gray backgrounds.
Cells with non-gray backgrounds are protected and cannot be edited.
Cash
Investments - McMarsh Inc.
Score:
ON
Instructions
Cash
Cash
Loss on Sale of Investments
3.
December 31, 2017
[Key code here]
An asterisk (*) will appear to the right of an incorrect entry. The essay answer will not be graded.
1. 2016
Feb. 14
April 1
June 1
June 27
Dec. 31
Cost Fair Value
Apollo Inc.
Ares Co.
Total
Increase (decrease) in fair value
2017
Mar. 14
June 26
July 30
Dec. 31
2.
ZEUS INVESTMENTS INC.
Balance Sheet (selected items)
Key Code:
Instructions
Answers are entered in the cells with gray backgrounds.
Cells with non-gray backgrounds are protected and cannot be edited.
Problem 13-2B
Name:
Section:
Score:
0%
Current assets:
Trading investments (at cost)
Trading investments (at fair value)
3.
December 31, 2017
(Key essay answer here)
An asterisk (*) will appear to the right of an incorrect entry. The essay answer will not be graded.
1. 2016
Feb. 14 124,992
124,992
April 1 43,792
Apollo Inc. 109,368$ 138,600$
Ares Co. 43,792 42,550
Total 153,160$ 181,150$
Increase (decrease) in fair value
27,990$
2017
Mar. 14 78,120
78,120
June 26 882
882
2.
Investments - Apollo Inc.
Instructions
Answers are entered in the cells with gray backgrounds.
Cells with non-gray backgrounds are protected and cannot be edited.
Investments - Ares Inc.
Problem 13-2B
Name:
Section:
Solution
Score:
ON
Cash
Cash
Cash
Investments - Athena Inc.
ZEUS INVESTMENTS INC.
Dividend Revenue
Balance Sheet (selected items)
December 31, 2017
[Key code here]
An asterisk (*) will appear to the right of an incorrect entry.
1. 2016
Jan. 22
Mar. 8
Sept. 8
Oct. 17
Dec. 31
2017
Jan. 10
Mar. 10
Sept. 12
Dec. 31
Dec. 31
Dec. 31
2.
Current assets:
Available-for-sale investments (at cost)
Plus valuation allowance for available-for-sale investments
Score:
Instructions
Answers are entered in the cells with gray backgrounds.
Cells with non-gray backgrounds are protected and cannot be edited.
Problem 13-3A
Name:
Section:
Key Code:
0%
December 31, 2017
FORTE INC.
Balance Sheet (selected items)
Available-for-sale investments (at fair value)
Noncurrent assets:
Investments in Imboden Inc. stock
Stockholders' equity
Retained earnings
Unrealized gain (loss) on available-for-sale investments
An asterisk (*) will appear to the right of an incorrect entry.
1. 2016
Jan. 22 396,000
396,000
Mar. 8 4,840
4,840
Sept. 8 5,500
5,500
2017
Jan. 10 720,000
720,000
Mar. 10 5,700
5,700
Sept. 12 5,700
5,700
2.
Current assets:
Available-for-sale investments (at cost) 342,000$
Plus valuation allowance for available-for-sale investments 76,000
Available-for-sale investments (at fair value) 418,000$
Balance Sheet (selected items)
December 31, 2017
Cash
Dividend Revenue
FORTE INC.
Dividend Revenue
Cash
Investment in Imboden Inc. Stock
Dividend Revenue
Score:
ON
Instructions
Answers are entered in the cells with gray backgrounds.
Cells with non-gray backgrounds are protected and cannot be edited.
Cash
Problem 13-3A
Name:
Section:
Solution
Cash
Investments - Sankal Inc.
Cash
Dividend Revenue
Cash
[Key code here]
An asterisk (*) will appear to the right of an incorrect entry.
1. 2016
Jan. 18
July 22
Oct. 5
Dec. 18
Dec. 31
2017
Jan. 25
July 16
Dec. 16
Dec. 31
Dec. 31
Dec. 31
2.
Current assets:
Available-for-sale investments (at cost)
Plus valuation allowance for available-for-sale investments
December 31, 2017
GLACIER PRODUCTS, INC.
Balance Sheet (selected items)
Key Code:
Instructions
Answers are entered in the cells with gray backgrounds.
Cells with non-gray backgrounds are protected and cannot be edited.
Score:
Problem 13-3B
Name:
Section:
0%
