Beresford Inc. purchased several investment securities during 2012, its first year of operations. The following information pertains
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Beresford Inc. purchased several investment securities during 2012, its first year of operations. The following information pertains to these securities. The fluctuations in their fair values are not considered permanent.
| Fair Value | Fair Value | Amortized Cost | Amortized Cost | |
| Held to Maturity Securities | 12/31/2012 | 12/31/2013 | 12/31/2012 | 12/31/2013 |
| ABC Co.Bonds | $375,000 | $400,000 | $367,500 | $360,000 |
| Fair Value | Fair Value | ||
| Trading Securities | 12/31/2012 | 12/31/2013 | Cost |
| DEF Co.Stock | $48,000 | $59,500 | $66,000 |
| GEH Inc.Stock | $47,000 | $77,000 | $39,000 |
| IJK Inc. Stock | $44,000 | $38,500 | $32,900 |
| Fair Value | Fair Value | ||
| Available for Sale Securities: | 12/31/2012 | 12/31/2013 | Cost |
| LMN co. Stock | $130,500 | $150,400 | $140,000 |
A. What balance sheet amount would Beresford report for its total investment securities at 12/31/2012?
B. What would be the balance in Beresford's accumulated other comprehensive income with respect to these investments in its 12/31/2013 balance sheet (ignore taxes)?
C. What total unrealized holding gain would Beresford report in its 2013 income statement relative to its investment securities?
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Related Book For 
Financial Accounting Tools for business decision making
ISBN: 978-0470534779
6th Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
Posted Date:
