16) Black Corporation bought the following securities during the current year: Security Alpha Co. Beta Co....

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16) Black Corporation bought the following securities during the current year: Security Alpha Co. Beta Co. Delta Co. Cost $91,000 $70,000 $30,000 Fair Value $98,000 $67,000 $38,000 Assume that these securities are trading securities. How will these securities be classified on the balance sheet at December 31 of the current year? A) Amount Classification $191,000 Current Asset B) Amount Classification $203,000 Current Asset C) Classification Amount $191,000 Noncurrent Asset D) Amount Classification $203,000 Noncurrent Asset 16) Black Corporation bought the following securities during the current year: Security Alpha Co. Beta Co. Delta Co. Cost $91,000 $70,000 $30,000 Fair Value $98,000 $67,000 $38,000 Assume that these securities are trading securities. How will these securities be classified on the balance sheet at December 31 of the current year? A) Amount Classification $191,000 Current Asset B) Amount Classification $203,000 Current Asset C) Classification Amount $191,000 Noncurrent Asset D) Amount Classification $203,000 Noncurrent Asset

Answer rating: 100% (QA)

Option B is correct 203000 Current assets Securities h... View the full answer