The Following Information Related to the Marketable Security Investments of Solo

question 109

Short Answer

The following information related to the marketable security investments of Solo Company. Securities held on December 31, 2009, as described in the table below. AAA and BBB are classified as trading securities and CCC is classified as an available-for-sale security. During 2010, Solo received word that dividends of $2.50 per share were declared, but not yet received on the 150 shares of CCC stock. The per-share market value of CCC on December 31, 2010, was $18. During 2011, Solo sold 150 shares of CCC for $22 per share. The journal entry to record the revaluation of CCC shares in 2010 is:

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Definitions:

Labor-Force Participation

The percentage of the working-age population that is engaged in the labor market, either employed or actively seeking employment.

Minimum Wage

The lowest legally permissible hourly wage that companies can pay to employees.

Bureau of Labor Statistics

A U.S. government agency responsible for collecting and analyzing essential data related to labor economics, including employment, unemployment, and price statistics.

Labor Force

The total number of people who are currently employed or actively seeking employment within an economy.