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

Question:

Gowdy Corporation has the following long-term investments:

(1) Common stock of Dixen Co. (10% ownership) held as available-for-sale securities, cost $108,000, fair value $115,000.

(2) Common stock of Ely 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...