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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
Problem 15-2B
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Dec. 31
2.
Current assets:
Trading investments (at cost)
Trading investments (at fair value)
3.
December 31, 2015
ZEUS INVESTMENTS
Balance Sheet (selected items)
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1. 2014
Feb. 14 124,992
124,992
April 1 43,792
43,792
Investments – Apollo Inc.
Cash
Cash
Problem 15-2B
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Solution
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Investments – Ares Inc.
Cash
Investments – Athena Inc.
Cash
Loss on Sale of Investments
Unrealized Loss on Trading Investments
Cash
Valuation Allowance for Trading Investments
Cash
Cash