Question
Item2 ItemSkipped Item 2 Beresford Incorporated purchased several investments in debt securities during 2023, its first year of operations. The following information pertains to these
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Item 2
Beresford Incorporated purchased several investments in debt securities during 2023, 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 12/31/2023 | Fair Value 12/31/2024 | Amortized Cost 12/31/2023 | Amortized Cost 12/31/2024 |
|---|---|---|---|---|
| ABC Company Bonds | $ 379,000 | $ 404,000 | $ 371,500 | $ 364,000 |
| Trading Securities: | Fair Value 12/31/2023 | Fair Value 12/31/2024 | Cost | |
| DEF Company Bonds | $ 52,000 | $ 63,500 | $ 66,000 | |
| GEH Incorporated Bonds | $ 51,000 | $ 74,000 | $ 43,000 | |
| IJK Incorporated Bonds | $ 48,000 | $ 42,500 | $ 36,900 | |
| Available-for-Sale Securities: | Fair Value 12/31/2023 | Fair Value 12/31/2024 | Cost | |
| LMN Company Bonds | $ 136,900 | $ 151,800 | $ 144,000 |
What total unrealized holding gain would Beresford report in its 2024 income statement relative to its investments in bonds?
Multiple Choice
$61,900
$43,900
$43,900
$29,000
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Intermediate Accounting Volume 2
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy
13th Canadian Edition
1119740444, 9781119740445
