On December 31, 2022, Shelton Corporation has two equity securities in which it has less...
60.1K
Verified Solution
Link Copied!
Question
Accounting
On December 31, 2022, Shelton Corporation has two equity securities in which it has less than a 20% ownership interest and therefore has little or no influence over these companies. Shelton has the following cost and fair value for these two companies, as shown in Illustration 16.11.
ILLUSTRATION 16.11 Computation of fair value adjustmentequity security portfolio (2022)
Investments
Cost
Fair Value
Unrealized Gain (Loss)
Twitter Co.
$259,700
$275,000
$15,300
Campbell Soup Co.
317,500
304,000
(13,500)
Totals
$577,200
$579,000
$1,800
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: Zin AI - Your personal assistant for all your inquiries!
