No investments were sold during 2021. All securities except Security D and Security F are considered short-term investments. None of the fair value changes is considered permanent. Complete the following table. Reported on Balance Sheet as: Unrealized gain (loss) included in: Current assets Noncurrent assets Net Income (I/S) Other Comprehensive Income (OCI) Total Comprehensive Income Trading Securities Security A Security B
No investments were sold during 2021. All securities except Security D and Security F are considered short-term investments. None of the fair value changes is considered permanent. Complete the following table. Reported on Balance Sheet as: Unrealized gain (loss) included in: Current assets Noncurrent assets Net Income (I/S) Other Comprehensive Income (OCI) Total Comprehensive Income Trading Securities Security A Security B
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
ChapterA2: Investments
Section: Chapter Questions
Problem 19E
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At December 31, 2021, Hull-Meyers Corp. had the following investments that were purchased during 2021, its first year of operations:
| Amortized cost | Fair Value | ||||||
| Trading Securities: | |||||||
| Security A | $ | 940,000 | $ | 954,000 | |||
| Security B | 145,000 | 139,200 | |||||
| Totals | $ | 1,085,000 | $ | 1,093,200 | |||
| Securities Available-for-Sale: | |||||||
| Security C | $ | 740,000 | $ | 816,000 | |||
| Security D | 940,000 | 956,600 | |||||
| Totals | $ | 1,680,000 | $ | 1,772,600 | |||
| Securities to Be Held-to-Maturity: | |||||||
| Security E | $ | 530,000 | $ | 540,800 | |||
| Security F | 655,000 | 649,200 | |||||
| Totals | $ | 1,185,000 | $ | 1,190,000 | |||
No investments were sold during 2021. All securities except Security D and Security F are considered short-term investments. None of the fair value changes is considered permanent.
Complete the following table.
|
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