Question
Beresford Inc. purchased several investments in debt securities during 2020, its first year of operations. The following information pertains to these securities. The fluctuations in
Beresford Inc. purchased several investments in debt securities during 2020, its first year of operations. The following information pertains to these securities. The fluctuations in their fair values are not considered permanent.
| Held-to-Maturity Securities: | Fair Value 12/31/2020 | Fair Value 12/31/2021 | Amortized Cost 12/31/2020 | Amortized Cost 12/31/2021 | ||||||||
| ABC Co. Bonds | $ | 385,000 | $ | 410,000 | $ | 377,500 | $ | 370,000 | ||||
| Trading Securities: | Fair Value 12/31/2020 | Fair Value 12/31/2021 | Cost | |||||||||
| DEF Co. Bonds | $ | 55,000 | $ | 66,000 | $ | 69,100 | ||||||
| GEH Inc. Bonds | $ | 57,000 | $ | 83,000 | $ | 49,000 | ||||||
| IJK Inc. Bonds | $ | 54,000 | $ | 48,500 | $ | 42,900 | ||||||
| Available-for-Sale Securities: | Fair Value 12/31/2020 | Fair Value 12/31/2021 | Cost | |||||||||
| LMN Co. Bonds | $ | 147,400 | $ | 161,900 | $ | 150,000 | ||||||
What total unrealized holding gain would Beresford report in its 2021 income statement relative to its investments in bonds?
A. $67,000
B. $45,950
C. $46,000
D. $31,500
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Development Of Audit Findings Of A National Survey Of Healthcare Provider Units In England Evaluating Medical Audit
Authors: Yvette, Buttery
1st Edition
1898845018, 978-1898845010
