Question
At December 31, 2022, available-for-sale debt securities for Storrer, Inc. are as follows. The securities are considered to be a long-term investment. Security Cost Fair
At December 31, 2022, available-for-sale debt securities for Storrer, Inc. are as follows. The securities are considered to be a long-term investment.
| Security | Cost | Fair Value | ||
|---|---|---|---|---|
| A | $17,500 | $16,000 | ||
| B | 12,500 | 14,000 | ||
| C | 23,000 | 21,000 | ||
| $53,000 | $51,000 |
(c) E. Kretsinger, a member of the board of directors, does not understand the reporting of the unrealized gains or losses. Write a letter to Ms. Kretsinger explaining the reporting and the purposes that it serves.
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Internal Quality Systems Auditing
Authors: Paul F. Lewis
1st Edition
1570744076, 978-1570744075
