At December 31, 2018, Hull-Meyers Corp. had the following investments that were purchased during 2018, its...
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At December 31, 2018, Hull-Meyers Corp. had the following investments that were purchased during 2018, its first year of operations: Cost Fair Value Trading Securities: Security A Security B $ 960,000 $ 975,000 165,000 $1,125, 000 $1,134,400 159,400 Totals Securities Available-for-Sale: Security C Security D $ 760,000 $ 834,000 960, 000 977,400 Totals $1,720, 000 $1,811,400 Securities to Be Held-to-Maturity: Security E Security F $ 550,000 675,000 $1,225, e00 $ 561,200 669,800 $1,231,e00 Totals No investments were sold during 2018. All securities except Security D and Security F are considered short-term investments. None of the fair value changes is considered permanent. Required: Compute the below table to calculate the following. (Amounts to be deducted should be indicated with a minus sign.) Reported on Balance Sheet as: Unrealized gain (loss) included in: Other Comprehensive Comprehensive Income (OCI) Total Noncurrent Net Income Current assets assets (1/S) Income Trading Securities Security A 2$ Security B $ Securities Available-for-Sale Security C $ Security D $ Securities to be Held-to-Maturity Security E $ Security F 2$ Totals 2$ 2$ At December 31, 2018, Hull-Meyers Corp. had the following investments that were purchased during 2018, its first year of operations: Cost Fair Value Trading Securities: Security A Security B $ 960,000 $ 975,000 165,000 $1,125, 000 $1,134,400 159,400 Totals Securities Available-for-Sale: Security C Security D $ 760,000 $ 834,000 960, 000 977,400 Totals $1,720, 000 $1,811,400 Securities to Be Held-to-Maturity: Security E Security F $ 550,000 675,000 $1,225, e00 $ 561,200 669,800 $1,231,e00 Totals No investments were sold during 2018. All securities except Security D and Security F are considered short-term investments. None of the fair value changes is considered permanent. Required: Compute the below table to calculate the following. (Amounts to be deducted should be indicated with a minus sign.) Reported on Balance Sheet as: Unrealized gain (loss) included in: Other Comprehensive Comprehensive Income (OCI) Total Noncurrent Net Income Current assets assets (1/S) Income Trading Securities Security A 2$ Security B $ Securities Available-for-Sale Security C $ Security D $ Securities to be Held-to-Maturity Security E $ Security F 2$ Totals 2$ 2$
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Reported on balance sheet as Unrealized gain loss included in Total Current Assets Noncurren... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-0078025839
9th edition
Authors: J. David Spiceland, James Sepe , Mark Nelson , Wayne Thomas
Posted Date:
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