Question
At December 31, 2016, Hull-Meyers Corp. had the following investments that were purchased during 2016, its first year of operations: Cost Fair Value Trading Securities:
At December 31, 2016, Hull-Meyers Corp. had the following investments that were purchased during 2016, its first year of operations: |
Cost | Fair Value | |||||
Trading Securities: | ||||||
Security A | $ | 955,000 | $ | 970,500 | ||
Security B | 160,000 | 154,200 | ||||
Totals | $ | 1,115,000 | $ | 1,124,700 | ||
Securities Available-for-Sale: | ||||||
Security C | $ | 755,000 | $ | 829,500 | ||
Security D | 955,000 | 972,200 | ||||
Totals | $ | 1,710,000 | $ | 1,801,700 | ||
Securities to Be Held-to-Maturity: | ||||||
Security E | $ | 545,000 | $ | 556,100 | ||
Security F | 670,000 | 664,900 | ||||
Totals | $ | 1,215,000 | $ | 1,221,000 | ||
No investments were sold during 2016. 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. (Amounts to be deducted should be indicated with a minus sign.) Reported on Balance sheet as: Unrealized gain (loss) included in:
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