Question
At December 31, 2021, Hull-Meyers Corp. had the following investments that were purchased during 2021, its first year of operations: Amortized cost Fair Value Trading
At December 31, 2021, Hull-Meyers Corp. had the following investments that were purchased during 2021, its first year of operations: Amortized 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 2021. All securities except Security D and Security F are considered short-term investments. None of the fair value changes is considered permanent.
No investments were sold during 2018. All securities except Security D and Security Fare 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: Other Total Net Income (I/S) Comprehensive Comprehensive Income (OCT) Income Noncurrent assets Current assets 0 $ $ 0 $ 0 Trading Securities Security A Security B Securities Available-for-Sale Security C Security D Securities to be Held-to-Maturity Security E Security F Totals $ 0 $ 0 $ 0 $ 0 $ 0 S 0 $ 0 $ 0Step by Step Solution
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