Business, 06.04.2021 01:10 twil85459

Peterson Corp provided the following information: 20X3 1/15 Purchased 5,000 shares of ABC stock at a price of $45 a share, plus a $5,000 brokerage commission. 3/31 Purchased 1,000 shares of XYZ stock at a price of $65 a share. 11/30 Sold 1,000 shares of ABC stock at $48 a share less a $220 brokerage fee. 12/31 ABC is trading at $46 a share reported net income of $16,000 and XYZ is trading at $63 a share reported net income of $36,000 20X4 4/1 Sold 500 share of XYZ at a price of $65 a share less a $150 brokerage fee 6/30 Received a $350 cash dividend from ABC 12/31 ABC is trading at $48 a share and reported a net loss of $3,000 and XYZ is trading at $63 a share and reported net income of $23,000 Assuming Peterson Corp has significant influence. For simplicity purposes, assume Peterson owns a constant (including the purchasing and selling of stock) 30% of ABC and 25% of XYZ. Peterson must account for the transactions under the equity method. What is reported on the balance sheet on 12/31/X3 for investment in equity securities

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Peterson Corp provided the following information: 20X3 1/15 Purchased 5,000 shares of ABC stock at a...