ACCOUNTING 8057 On February 15, Seacroft buys 7,500 shares of Kebo common at $28.58

ACCOUNTING 8057 On February 15, Seacroft buys 7,500 shares of Kebo common at $28.58

Question # 00313800 Posted By: solutionshere Updated on: 06/11/2016 12:23 AM Due on: 07/11/2016
Subject Accounting Topic Accounting Tutorials:
Question
Dot Image

On February 15, Seacroft buys 7,500 shares of Kebo common at $28.58 per share plus a brokerage fee of $420. The stock is classified as available-for-sale securities. On March 15, Kebo declares a dividend of $1.20 per share payable to stockholders of record on April 15. Seacroft received the dividend on April 15 and ultimately sells half of the Kebo stock on November 17 of the current year for $29.35 per share less a brokerage fee of $275. The fair value of the remaining shares is $29.55 per share. The amount that Seacroft should report in the asset section of its year-end December 31 balance sheet for its investment in Kebo is:

A. $3,428

B. $6,195

C. $110,812

D. $2,402

E. $214,770

Dot Image
Report this Question as Inappropriate
Tutorials for this Question
  1. solutionshere
    Tutorial # 00309240 Posted By: solutionshere Posted on: 06/11/2016 12:23 AM
    Puchased By: 3
    Tutorial Preview
    The solution of ACCOUNTING 8057 On February 15, Seacroft buys 7,500 shares of Kebo common at $28.58...
      Get the Solution
    Attachments
    Solution-00309240.zip (104 KB)
    Recent Feedback
    Rated By Feedback Comments Rated On
    gi...tch Rating Awesome quality 03/11/2018
  Get the Solution

Great! We have found the solution of this question!

Related Questions and Answers

Whatsapp Lisa