At December 31, 2013, Hull-Meyers Corp. had the following investments that were purchased during 2013,...
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Accounting
At December 31, 2013, Hull-Meyers Corp. had the following investments that were purchased during 2013, its first year of operations:
Cost
Fair Value
Trading Securities:
Security A
$
925,000
$
937,500
Security B
130,000
124,500
Totals
$
1,055,000
$
1,062,000
Securities Available-for-Sale:
Security C
$
725,000
$
802,500
Security D
925,000
941,000
Totals
$
1,650,000
$
1,743,500
Securities to Be Held-to-Maturity:
Security E
$
515,000
$
525,500
Security F
640,000
634,500
Totals
$
1,155,000
$
1,160,000
No investments were sold during 2013. 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.
Reported on Balance Sheet as:
Unrealized gain (loss) included in:
Current assets
Noncurrent assets
Net Income (I/S)
Other Comprehensive Income (OCI)
Total Comprehensive Income
Trading Securites
Security A
Security B
Securities Acailable - For- Sale
Security C
Security D
Securities to be Held- to- Maturity
Security E
Security F
Totals
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