Question
Moliner Invesments, Inc. bought several debt securities during 2019, its first year of in business. Consider the following information: Held to Maturity Securities: Fair Value
Moliner Invesments, Inc. bought several debt securities during 2019, its first year of in business. Consider the following information:
| Held to Maturity Securities: | Fair Value 12/31/2019 | Fair Value 12/31/2020 | Amortized Cost 12/31/2019 | Amortized Cost 12/31/2020 | ||||||||
| Alpha Co. Bonds | $ | 187,500 | $ | 200,000 | $ | 183,750 | $ | 180,000 | ||||
| Trading Securities: | Fair Value 12/31/2019 | Fair Value 12/31/2020 | Cost | |||||||||
| Beta Co. Bonds | $ | 24,000 | $ | 29,750 | $ | 33,000 | ||||||
| Theta Inc. Bonds | $ | 23,500 | $ | 38,500 | $ | 19,500 | ||||||
| Gamme Inc. Bonds | $ | 22,000 | $ | 19,250 | $ | 16,450 | ||||||
| Available for Sale Securities: | Fair Value 12/31/2019 | Fair Value 12/31/2020 | Cost | |||||||||
| Chi Co. Bonds | $ | 65,250 | $ | 75,200 | $ | 70,000 | ||||||
What balance sheet amount would Moliner Investments report for the total of its investments in debt securities at 12/31/2019?
Group of answer choices
$322,250.
$322,700.
None of these answer choices are correct.
$318,500.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Corporate Financial Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
13th edition
1285868781, 978-1285868783
