Gurnee Corporation has the following long-term investments: (1) Common stock of Kornas Co. (10% ownership) held as

Question:

Gurnee has the following long-term investments:
(1) of Kornas Co. (10% ownership) held as available-for-sale securities, cost $108,000, fair value $115,000.
(2) of Kozanecki Inc. (30% ownership), cost $210,000, equity $270,000. Prepare the investments section of the balance sheet.

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...