Question during 2014 toney corporation held a portfolio of, Ask an Expert

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Question: During 2014, Toney Corporation held a portfolio of available-for-sale securities having a cost of $221,700. There were no purchases or sales of investments during the year. The market values at the beginning and end of the year were $261,600 and $210,600, respectively. The net income for 2014 was $204,000, and no dividends were paid during the year. The Stockholders' Equity section of the balance sheet was as follows on December 31, 2013:

Toney Corporation Stockholders' Equity December 31, 2013
Common stock		$47,000
Paid-in capital in excess of par		350,000
Retained earnings		461,100
Unrealized gain (loss) on available-for-
	sale investments	39,900
	Total	898,000

Prepare the Stockholders' Equity section of the balance sheet for December 31, 2014.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92713191

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