[Key code here]
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1. 2014
Mar. 14
April 24
June 1
June 30
Dec. 31
Fair Value
Cost (Dec 31, 2014)
Wilkomm Inc.
McMarsh Inc.
Total
Increase (decrease) in fair value
2015
April 4
June 28
Sept. 9
Dec. 31
2.
Current assets:
Trading investments (at cost)
Plus valuation allowance for trading investments
Trading investments (at fair value)
3.
December 31, 2015
(Key essay answer here)
SKOFIELD FINANCIAL CO.
Balance Sheet (selected items)
0%
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Instructions
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Problem 13-2A
Name:
Section:
Score:
An asterisk (*) will appear to the right of an incorrect entry. The essay answer will not be graded.
1. 2014
Mar. 14 200,500
200,500
2.
Instructions
Answers are entered in the cells with gray backgrounds.
Cells with non-gray backgrounds are protected and cannot be edited.
Problem 13-2A
Name:
Section:
Solution
Score:
ON
Investments – Wilkomm Inc.
Cash
Balance Sheet (selected items)
December 31, 2015
SKOFIELD FINANCIAL CO.
Investments – McMarsh Inc.
Cash
Cash
Unrealized Loss on Trading Investments
Cash
Cash
Cash
Loss on Sale of Investments
Cash
Investments – Daley Inc.