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Exercise 12-14 Various investment securities (LO12-3, 12-4] At December 31, 2018, Hull-Meyers Corp. had the following investments that were purchased during 2018, its first year
Exercise 12-14 Various investment securities (LO12-3, 12-4] At December 31, 2018, Hull-Meyers Corp. had the following investments that were purchased during 2018, its first year of operations: 1.75/2.5 points awarded Cost Fair Value Scored $ 910,000 115,000 $1,025,000 $ 921,000 109,800 $1,030, 800 eBook Trading Securities: Security A Security B Totals Securities Available-for-Sale: Security C Security D Totals Securities to Be Held-to-Maturity: Security E Security F Totals $ 710,000 910,000 $1,620,000 $ 789,000 925, 400 $1,714,400 Print References $ 500,000 625,000 $1,125,000 $ 510,300 619,800 $1,130,100 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: Current assets Noncurrent assets Unrealized gain (loss) included in: Other Total Net Income Comprehensive Comprehensive (1/S) Income (OCI) Income $ $ 921,000 109,800 $ $ 11,000 (5,200) 11,000 (5,200) Trading Securities Security A Security B Securities Available-for-Sale Security C Security D Securities to be Held-to- Maturity $ 789,000 $ $ 72,000 $ 94,400 $ 72,000 94,400 $ 1,714,400 as Reported on Balance Sheet Unrealized gain (loss) included in: Other Total Current Noncurrent Net Income Comprehensive Comprehensive assets assets (1/S) Income (OCI) Income Trading Securities Security A $ 921,000 $ 11,000 $ 11,000 Security B $ 109,800 $ (5,200) (5,200) Securities Available-for-Sale Security C $ 789,000 72,000 X $ 72,000 Security D $ 1,714,400 X 94,400 $ 94,400 Securities to be Held-to- Maturity Security E $ 500,000 Security F $ 625,000 Totals $ 2,319,800 $ 2,339,400 $ 5,800 $ 166,400 $ 172,200 *Red text indicates no response was expected in a cell or a formula-based calculation is incorrect; no points deducted
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