Kasznik Company began operations on January 2, 2019, and by year-end (December 31) had made the following

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Kasznik Company began operations on January 2, 2019, and by year-end (December 31) had made the following investments in financial securities. Year-end information on these investments follows.

a. At what total amount are the trading stock investments reported at in the December 31, 2019, balance sheet?

b. At what total amount are the available-for-sale debt investments reported at in the December 31, 2019, balance sheet?

c. At what total amount are the equity method stock investments reported at in the December 31, 2019, balance sheet?

d. What total amount of unrealized holding gains or unrealized holding losses related to the investments appears in the 2019 income statement?

e. What total amount of unrealized holding gains or unrealized holding losses related to the investments appears in the stockholders' equity section of the December 31, 2019, balance sheet?

f. What total amount of fair value adjustment to the investments appears in the December 31, 2019, balance sheet? Which category of investments does the fair value adjustment relate to? Does the fair value adjustment increase or decrease the financial statement presentation of these investments?

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Financial Accounting

ISBN: 9781618533111

6th Edition

Authors: Michelle L. Hanlon, Robert P. Magee, Glenn M. Pfeiffer, Thomas R. Dyckman

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