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1. 2014
Jan. 18
July 22
Oct. 5
Dec. 18
Dec. 31
2015
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
Available-for-sale investments (at fair value)
Noncurrent assets:
Investments in Helsi Co. stock
Stockholders’ equity
Retained earnings
Unrealized gain (loss) on available-for-sale investments
December 31, 2015
GLACIER PRODUCTS, INC.
Balance Sheet (selected items)
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Instructions
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Score:
Problem 13-3B
Name:
Section:
0%
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1. 2014
Jan. 18 360,000
360,000
2.
Current assets:
Available-for-sale investments (at cost) 340,000$
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Investments – Malmo Inc.
Score:
ON
Instructions
Problem 13-3B
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Section:
Solution
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Cash
Balance Sheet (selected items)
December 31, 2015
GLACIER PRODUCTS, INC.
Cash
Cash
Cash
Investment in Helsi Co. Stock
Valuation Allowance for Available-for-Sale Investments
Cash
Cash
Investment in Helsi Co. Stock
Cash