Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 21) abc company bought 2,000 shares of common stoc

21) ABC Company bought 2,000 shares of common stock (5% interest) of JKL Company for...

60.1K

Verified Solution

Question

Accounting

21) ABC Company bought 2,000 shares of common stock (5% interest) of JKL Company for $10 a share on January 1, 2020. On December 31, 2020 the JKL stock had a market value of $9 a share. On December 31, 2021, market value of the JKL stock was $15 a share. What amount should ABC Company record as an adjustment to the Fair Value Adjustment account on December 31, 2021?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

7 Evaluate at x 4 g x 53 1 3e 4x none of these 8...

Algebra
Q

Engineers must consider the breadths of male heads when designing helmets. The company researchers have determined...

Statistics
Q

Kb \"weak base calculations\" 1. The hydronium ion concentration of an aqueous solution of 0.538 M ammonia is H3O+...

Chemistry
Q

The cone shaped sensor at the base of the semicircular canals involved with balance? Saccule Otoliths Utricle scala media Cupola

Medical Sciences
Q

The length of potentiometer wire is 1 m and its resistance is 40 A current...

Physics
Q

8 Find the area of the following figure The units are in feet 12 14...

Geometry
Q

Let f x g x where gu Step 1 We are given the function f...

Calculus
Q

Find the equation of the line with the given slope and containing the given point...

Algebra
Q

Ecru Company has identified five industry segments: plastics, metals, lumber, paper, and finance....

Accounting
Q

35. Following is the Statement of Financial Position for the Adrienne, Ezra and Noelyn Partnership...

Accounting
Q

Additional information for 2024 : 1. Net income is $128,400. 2. Sales on account are...

Accounting
Q

1. Suppose four trades are executed in a day with initial 0 open interest. Each...

Finance