Business, 07.06.2020 02:02 kashishmehta917

Stoll Co.'s long-term available-for-sale portfolio at the start of this year consists of the following. Available-for-Sale Securities Cost Fair Value
Company A bonds $535,300 $490,000
Company B notes 159,380 154,000
Company C bonds 662,750 640,940

Stoll enters into the following transactions involving its available-for-sale debt securities this year.

Jan. 29 Sold one-half of the Company B notes for $78,820.
July 6 Purchased bonds of Company X for $122,100.
Nov. 13 Purchased notes of Company Z for $267,300.
Dec. 9 Sold all of the bonds of Company A for $524,800.

The fair values at December 31 are B, $82,300; C, $603,800; X, $120,000; and Z, $276,000.

Required:
What amount of gains or losses on transactions relating to long-term investments in available-for-sale debt securities does Stoll report on its income statement for this year?

Answers: 1

Show answers

Another question on Business

Business, 21.06.2019 14:50

Which of the following is the most direct cause of cost-push inflation? a. rising production costs. b. reductions in wages. c. greater scarcity of natural resources. d. increasing supply of goods and services. 2b2t

Answers: 3

Answer

Business, 21.06.2019 21:40

Bella is the new president of first edition, a group dedicated to the promotion of english literacy in first-generation immigrant communities. in the two years that have passed since bella took the position, the organization's members have become more passionate about their mission and intensified their activities—they put in long hours teaching children to read, promoting the program to parents, and soliciting donations. bella's strength is in her ability to inspire others and make them believe that they are part of something greater than themselves. which term best captures bella's leadership style? a. transactional b. transformational c. legitimate authority d. absolute authority

Answers: 1

Answer

Business, 22.06.2019 08:40

Which of the following is not a characteristic of enterprise applications that cause challenges in implementation? a. they introduce "switching costs," making the firm dependent on the vendor. b. they cause integration difficulties as every vendor uses different data and processes. c. they are complex and time consuming to implement. d. they support "best practices" for each business process and function. e. they require sweeping changes to business processes to work with the software.

Answers: 1

Answer

Business, 22.06.2019 10:50

Melissa is a very generous single woman. before this year, she had given over $11,400,000 in taxable gifts over the years and has completely exhausted her applicable credit amount. in the current year, melissa gave her daughter riley $100,000 and promptly filed her gift tax return. melissa did not make any other gifts this year. how much gift tax must riley pay the irs because of this transaction?

Answers: 2

Answer

You know the right answer?

Stoll Co.'s long-term available-for-sale portfolio at the start of this year consists of the followi...

Questions