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Please Show your work Beresford Inc. purchased several investment securities during 2012, its first year of operations. The following information pertains to these securities. The
Please Show your work
Beresford Inc. purchased several investment securities during 2012, its first year of operations. The following information pertains to these securities. The fluctuations in their fair values are not considered permanent Amortized Cost Amortized Cost air Value : 2312012 $375,000 air Value Held to Maturity Securities ABC Co. Bonds $400,000 S367.500 $360,000 Fair Value Fair Value Trading Securities DEF Co. Stock GEH Inc. Stock IJK Inc. Stock 12/31/2012 12/31/2013 $48,000 $47,000 $44,000 $59.500 $77,000 S38,500 Cost $66,000 $39,000 $32,900 Fair Value Fair Value Available for Sale Securities 1231/2012 Cost S140,000 LMN Co. Stock $130,500 $150,400 6, What balance sheet amount would Beresford report for its total investment securities at 12/31/2012? A $637,000 B. $644,500 C. $645,400 D. None of the above is correctStep by Step Solution
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