EXAM $2($F$)$: Chap $14-16$

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$Sa$

ark Services began operations in $201$ and maintains investments in available$-$for$-$sale debt securities$.$ The year$-$end cost and fair valu olio of these debt securities follows.

$\backslash$table$[[$ilable$-$for$-$Sale Securities,Cost,Fair Value$],[$ember $31,201,$$$345,000,$$$349,800$

MONTGOMERY INCORPORATED

Comparative Balance Sheets

At December $31$

Assets

Cash

Account$$ receivable, net

Inventory

Total current assets

Equipment

Accumulated depreciation$-$Equipment

Total assets

Liabilities and Equity

Accounts payable

Salaries payable

Total current liabilities

Equity

Common stock, no par value

Retained earnings

Total liabilities and equity

Current Year Prior Year

$\backslash$table$[[$$$53,100,$$$53,400$