Monty Company has the following securities in its investment portfolio on December all securities were purchased in :
shares of Anderson Co common stock which cost $ shares of Munter Ltd common stock which cost $ and shares of King Company preferred stock which cost $ The Fair Value Adjustment account shows a credit of $ at the end of
In Monty completed the following securities transactions.
On January sold shares of Anderson's common stock at $ per share less fees of $
On April purchased shares of Castle's common stock at $ per share plus fees of $
On December the market prices per share of these securities were Munter $ King $ and Castle $ In addition, the accounting supervisor of Monty told you that, even though all these securities have readily determinable fair values, Monty will not actively trade these securities because the top management intends to hold them for more than one year.
