Business
Business, 07.06.2020 02:02, kashishmehta917

Stoll Co.'s long-term available-for-sale portfolio at the start of this year consists of the following. Available-for-Sale Securities Cost Fair Value
Company A bonds $535,300 $490,000
Company B notes 159,380 154,000
Company C bonds 662,750 640,940

Stoll enters into the following transactions involving its available-for-sale debt securities this year.

Jan. 29 Sold one-half of the Company B notes for $78,820.
July 6 Purchased bonds of Company X for $122,100.
Nov. 13 Purchased notes of Company Z for $267,300.
Dec. 9 Sold all of the bonds of Company A for $524,800.

The fair values at December 31 are B, $82,300; C, $603,800; X, $120,000; and Z, $276,000.

Required:
What amount of gains or losses on transactions relating to long-term investments in available-for-sale debt securities does Stoll report on its income statement for this year?

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Answers: 1

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Stoll Co.'s long-term available-for-sale portfolio at the start of this year consists of the followi...

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