Problem 13-2A Stock investment Transactions,trading securities- Heritage Insurance Co. is a regional insurance company
Determining the Size of the Moon
September 26, 2020Challenges in Decision Making
September 26, 2020Problem 13-2A Stock investment Transactions,trading securities- Heritage Insurance Co. is a regional insurance company
Problem 13-2A
Stock investment Transactions,trading securities
Heritage Insurance Co. is a regional insurance company that began operations on January 1, 2012. The following transactions relate to trading securities acquired by Heritage Insurance Co., which has a fiscal year ending on December 31:
1.Journalize the entries to record these transactions. For a compound transaction, if an amount box does not require an entry, leave it blank or enter 0.
| Date | Amount | Debit | Credit |
|---|---|---|---|
| 2012 | |||
| Feb. 21 | |||
| Mar. 9 | |||
| May 3 | |||
| June 8 | |||
| Dec. 31 | |||
| 2013 | |||
| May 21 | |||
| June 11 | |||
| Aug. 16 | |||
| Dec. 31 | |||
2.Prepare the investment-related current asset balance sheet disclosures for Heritage Insurance Co. on December 31, 2013. Enter all amounts as positive numbers.
| HERITAGE INSURANCE CO. Balance Sheet (selected items) December 31, 2013 |
|---|
| Current assets: |
3.How are unrealized gains or losses on trading investments disclosed on the financial statements of Heritage Insurance Co.?
The input in the box below will not be graded, but may be reviewed and considered by your instructor.
