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Beresford Inc. purchased several investments in debt securities during 2020, its first year of operations. The following information pertains to these securities. The fluctuations
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: ABC Co. Bonds Fair Value Fair Value 12/31/2020 $383,000 12/31/2021 $408,000 Amortized Cost Amortized Cost 12/31/2020 $375,500 Trading Securities: DEF Co. Bonds Fair Value 12/31/2020 $ 53,000 $ 64,000 Fair Value 12/31/2021 Cost $ 68,000 GEH Inc. Bonds $ 55,000 $ 85,000 $ 47,000 IJK Inc. Bonds $ 52,000 $ 46,500 $ 40,900 Available-for-Sale Fair Value Fair Value Securities: LMN Co. Bonds 12/31/2020 $144,500 12/31/2021 $157,500 Cost $148,000 12/31/2021 $368,000 What balance sheet amount would Beresford report for the total of its investments in bonds at 12/31/2020? Multiple Choice O O O O 5673,500. $680,000. $687,500. None of these answer choices are correct.
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