Beresford Incorporated purchased several investments in debt securities during 2023, its first year of operations. The following information pertains to these securities. The fluctuations in their fair values are not considered permanent. Held-to-Maturity Securities: Fair Value 12/31/2023 Fair Value 12/31/2024 Amortized Cost 12/31/2023 Amortized Cost 12/31/2024 ABC Company Bonds $ 375,000 $ 400,000 $ 367,500 $ 360,000 Trading Securities: Fair Value 12/31/2023 Fair Value 12/31/2024 Cost DEF Company Bonds $ 48,000 $ 59,500 $ 66,000 GEH Incorporated Bonds $ 47,000 $ 77,000 $ 39,000 IJK Incorporated Bonds $ 44,000 $ 38,500 $ 32,900 Available-for-Sale Securities: Fair Value 12/31/2023 Fair Value 12/31/2024 Cost LMN Company Bonds $ 130,500 $ 150,400 $ 140,000 What total unrealized holding gain would Beresford report in its 2024 income statement relative to its investments in bonds?
Beresford Incorporated purchased several investments in debt securities during 2023, its first year of operations. The following information pertains to these securities. The fluctuations in their fair values are not considered permanent. Held-to-Maturity Securities: Fair Value 12/31/2023 Fair Value 12/31/2024 Amortized Cost 12/31/2023 Amortized Cost 12/31/2024 ABC Company Bonds $ 375,000 $ 400,000 $ 367,500 $ 360,000 Trading Securities: Fair Value 12/31/2023 Fair Value 12/31/2024 Cost DEF Company Bonds $ 48,000 $ 59,500 $ 66,000 GEH Incorporated Bonds $ 47,000 $ 77,000 $ 39,000 IJK Incorporated Bonds $ 44,000 $ 38,500 $ 32,900 Available-for-Sale Securities: Fair Value 12/31/2023 Fair Value 12/31/2024 Cost LMN Company Bonds $ 130,500 $ 150,400 $ 140,000 What total unrealized holding gain would Beresford report in its 2024 income statement relative to its investments in bonds?
Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
Chapter13: Marketable Securities And Derivatives
Section: Chapter Questions
Problem 20E
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Beresford Incorporated purchased several investments in debt securities during 2023, its first year of operations. The following information pertains to these securities. The fluctuations in their fair values are not considered permanent.
| Held-to-Maturity Securities: | Fair Value 12/31/2023 | Fair Value 12/31/2024 | Amortized Cost 12/31/2023 | Amortized Cost 12/31/2024 |
|---|---|---|---|---|
| ABC Company Bonds | $ 375,000 | $ 400,000 | $ 367,500 | $ 360,000 |
| Trading Securities: | Fair Value 12/31/2023 | Fair Value 12/31/2024 | Cost | |
| DEF Company Bonds | $ 48,000 | $ 59,500 | $ 66,000 | |
| GEH Incorporated Bonds | $ 47,000 | $ 77,000 | $ 39,000 | |
| IJK Incorporated Bonds | $ 44,000 | $ 38,500 | $ 32,900 | |
| Available-for-Sale Securities: | Fair Value 12/31/2023 | Fair Value 12/31/2024 | Cost | |
| LMN Company Bonds | $ 130,500 | $ 150,400 | $ 140,000 |
What total unrealized holding gain would Beresford report in its 2024 income statement relative to its investments in bonds?
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