Ireland Airways recently reported the following items at fair value in recent annual report (in millions).   Account Amount Source of Input Cash and Cash equivalents $11,837 Identical Asset /Active Market Commercial Paper       135 Similar Asset/Active Market Other Available for Sale Securities       228 Identical Asset/Active Market Option contracts       109 Significant unobservable inputs Time Deposits       550 Identical Asset/Inactive Market Certificates of Deposit       125 Similar Asset/Inactive Market     What is the total dollar amount of level 1 assets? What is the total dollar amount of level 2 assets? What is the total dollar amount of level 3 assets?

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter13: Investments And Long-term Receivables
Section: Chapter Questions
Problem 2MC: During 2021, Anthony Company purchased debt securities as a long-term investment and classified them...
icon
Related questions
Question

Ireland Airways recently reported the following items at fair value in recent annual report (in millions).

 

Account

Amount

Source of Input

Cash and Cash equivalents

$11,837

Identical Asset /Active Market

Commercial Paper

      135

Similar Asset/Active Market

Other Available for Sale Securities       228

Identical Asset/Active Market

Option contracts

      109

Significant unobservable inputs

Time Deposits

      550

Identical Asset/Inactive Market

Certificates of Deposit

      125

Similar Asset/Inactive Market

 

 

What is the total dollar amount of level 1 assets?

What is the total dollar amount of level 2 assets?

What is the total dollar amount of level 3 assets?

Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 1 images

Blurred answer
Knowledge Booster
Investments and Financial instruments
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Auditing: A Risk Based-Approach to Conducting a Q…
Auditing: A Risk Based-Approach to Conducting a Q…
Accounting
ISBN:
9781305080577
Author:
Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:
South-Western College Pub