On December 31, 2020, Pharoah Associates owned the following securities, held as a long-term investment....
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On December 31, 2020, Pharoah Associates owned the following securities, held as a long-term investment. The securities are not held for influence or control of the investee.
Common Stock
Shares
Cost
Gehring Co.
2,100
$58,800
Wooderson Co.
5,100
40,800
Kitselton Co.
1,700
30,600
On December 31, 2020, the total fair value of the securities was equal to its cost. In 2021, the following transactions occurred:
Aug.
1
Received $0.50 per share cash dividend on Gehring Co. common stock.
Sept.
1
Sold 1,530 shares of Wooderson Co. common stock for cash at $7 per share.
Oct.
1
Sold 840 shares of Gehring Co. common stock for cash at $31 per share.
Nov.
1
Received $1 per share cash dividend on Kitselton Co. common stock.
Dec.
15
Received $0.50 per share cash dividend on Gehring Co. common stock.
Dec.
31
Received $1 per share annual cash dividend on Wooderson Co. common stock.
At December 31, the fair values per share of the common stocks were: Gehring Co. $30, Wooderson Co. $7, and Kitselton Co. $16.
> Sept. 1 v Cash 10710 Cli Loss on Sale of Stock Investments 48741 > x Stock Investments 59451 3 Stock Investments Jan. 1 Bal. Sept. 1 59451 Oct. 1 23520 Dec. 31 Bal. V
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