Question

On November 1 of Year 1, Drucker Co. acquired the following investments in equity securities measured at FV‑NI. Kelly Corporation 250 shares of common stock (no-par) at $60 per share Keefe Corporation 150 shares preferred stock ($10 par) at $20 per share On December 31, the company’s year-end, the quoted market prices were as follows: Kelly Corporation common stock, $52, and Keefe Corporation preferred stock, $24. Following are the data for the following year (Year 2). Mar. 02: Dividends per share, declared and paid: Kelly Corp., $1, and Keefe Corp., $0.50. Oct. 01: Sold 50 shares of Keefe Corporation preferred stock at $25 per share. Dec. 31: Fair values: Kelly common, $46 per share, Keefe preferred, $26 per share. 

          On November 1 of Year 1, Drucker Co. acquired the following investments in equity securities measured at FV‑NI.

Kelly Corporation	250	shares of common stock (no-par) at $60 per share
Keefe Corporation	150	shares preferred stock ($10 par) at $20 per share
On December 31, the company’s year-end, the quoted market prices were as follows: Kelly Corporation common stock, $52, and Keefe Corporation preferred stock, $24.

Following are the data for the following year (Year 2).
Mar. 02: Dividends per share, declared and paid: Kelly Corp., $1, and Keefe Corp., $0.50.
Oct. 01: Sold 50 shares of Keefe Corporation preferred stock at $25 per share.
Dec. 31: Fair values: Kelly common, $46 per share, Keefe preferred, $26 per share.
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Horngren’s Cost Accounting
Horngren’s Cost Accounting
Srikant M. Datar, Madhav V. Rajan 16th Edition
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On November 1 of Year 1, Drucker Co. acquired the following investments in equity securities measured at FV‑NI. Kelly Corporation 250 shares of common stock (no-par) at $60 per share Keefe Corporation 150 shares preferred stock ($10 par) at $20 per share On December 31, the company’s year-end, the quoted market prices were as follows: Kelly Corporation common stock, $52, and Keefe Corporation preferred stock, $24. Following are the data for the following year (Year 2). Mar. 02: Dividends per share, declared and paid: Kelly Corp., $1, and Keefe Corp., $0.50. Oct. 01: Sold 50 shares of Keefe Corporation preferred stock at $25 per share. Dec. 31: Fair values: Kelly common, $46 per share, Keefe preferred, $26 per share.
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Transcript

-
00:04 Entries for drucker company in year one and year two funnel entries.
00:26 Debit, investment in kelly corporation, common stock, $15 ,000, every minus in either is to fit as into $60 per share, then debit goes to $3, credit cash, $50 ,000, that's $3 ,000, which is $18 ,000...
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