Question
Fernandez Corp. invested its excess cash in available-for-sale securities during 2014. As of December 31, 2014, the portfolio of available-for-sale securities consisted of the following
Fernandez Corp. invested its excess cash in available-for-sale securities during 2014. As of December 31, 2014, the portfolio of available-for-sale securities consisted of the following common stocks.
| Security | Quantity | Cost | Fair Value | |||||
| Lindsay Jones, Inc. | 1,520 shares | $15,240 | $21,480 | |||||
| Poley Corp. | 2,600 shares | 43,340 | 45,420 | |||||
| Arnold Aircraft | 2,600 shares | 73,530 | 60,530 | |||||
| Totals | $132,110 | $127,430 |
(a) What should be reported on Fernandez
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Auditing Theory And Practice
Authors: Jerry R. Strawser, Robert H. Strawser, Roger H. Hermanson
9th Edition
0873939336, 9780873939331
