The 2017 annual report of Albany Corporation reports the following (in millions): Amortized Cost Fair Value December 31, 2016 Short-term investments — available-for-sale...

60.1K

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Question

Accounting

The 2017 annual report of AlbanyCorporation reports the following (in millions):
Amortized
Cost
Fair
Value
December 31, 2016
Short-term investments —available-for-sale debt securities
$840.7
$835.0
Short-term investments — trading debtsecurities
108.4
94.2
Total short-term investments
$949.1
$929.2
December 31, 2017
Short-term investments —available-for-sale debt securities
$ 462.9
$ 463.4
Short-term investments — trading debtsecurities
79.5
75.6
Total short-term investments
$542.4
$539.0
a. What amount does Albany report astrading debt securities on its balance sheets for 2017?
b. How do the net unrealized gains(losses) on the company’s trading debt securities affect pretaxincome for 2017?

Answer & Explanation Solved by verified expert

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Please give positive ratings so I can keep answering Thanks For purposes of valuation and financial reporting Trading Securities are always short term and See Answer

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The 2017 annual report of Albany Corporation reports the following (in millions): Amortized Cost Fair Value December 31, 2016 Short-term investments — available-for-sale...

60.1K

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Question

Accounting

Answer & Explanation Solved by verified expert

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	Amortized Cost	Fair Value
December 31, 2016
Short-term investments —available-for-sale debt securities	$840.7	$835.0
Short-term investments — trading debtsecurities	108.4	94.2
Total short-term investments	$949.1	$929.2
December 31, 2017
Short-term investments —available-for-sale debt securities	$ 462.9	$ 463.4
Short-term investments — trading debtsecurities	79.5	75.6
Total short-term investments	$542.4	$539.0