Question
Part 1: Research and Review Research and review the accounting for investments under the GAAP. Address the following questions. Please make sure that your answers
Part 1: Research and Review
Research and review the accounting for investments under the GAAP. Address the following questions. Please make sure that your answers are concise and accurate.
1. How the debt securities are classified under the GAAP? Provide your answers in the 1st column in the Table provided below.
2. Based on the classifications of the debt securities, how are the debt securities valued on the balance sheet? Provide your answers in the 2nd column in the Table.
3. Based on the classifications of the debt securities, how are the debt securities reported on the balance sheet? Provide your answers in the 3rd column in the Table
4. Based on the classifications of the debt securities, where are the interests reported on the income statement if applicable. Provide your answers in the 4th column in the Table
5. Based on the classifications of the debt securities, on which of the financial statements are the unrealized gains or losses reported if applicable? Provide your answers in the 5th column in the Table.
Table Research on the Accounting Treatment for Debt Securities | ||||
1 | 2 | 3 | 4 | 5 |
Classification | Valuation on the balance Sheet At what value? | Balance Sheet Reporting Current or Noncurrent? | Where are the interests reported on the income statement if applicable?
| Any unrealized gains or losses are reported on which financial statement if applicable? |
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