At December 31, 2018, Hull-Meyers Corp. had the following investments that were purchased during 2018,...
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Accounting
At December 31, 2018, Hull-Meyers Corp. had the following investments that were purchased during 2018, its first year of operations:
Cost
Fair Value
Trading Securities:
Security A
$
905,000
$
915,500
Security B
110,000
104,900
Totals
$
1,015,000
$
1,020,400
Securities Available-for-Sale:
Security C
$
705,000
$
784,500
Security D
905,000
920,200
Totals
$
1,610,000
$
1,704,700
Securities to Be Held-to-Maturity:
Security E
$
495,000
$
505,200
Security F
620,000
614,900
Totals
$
1,115,000
$
1,120,100
No investments were sold during 2018. All securities except Security D and Security F are considered short-term investments. None of the fair value changes is considered permanent.
Reported on Balance sheet as: Unrealized gain (loss) included in:
current assessts
noncurrent assets
net income
other comprehensive
income
Totel
Comprehensive
income
Trading securities
Security A
970,500
Security B
154,200
Securities Avalabile for sale
Security C
829,500
Security D
Securities to be held until maturity
Security E
545,000
Security F
Totals:
$
$
$
$
$
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