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The financial statement presentation of debt securities categorized as trading, held-to-maturity, or available-for-sale as of March 31, 2018, is due shortly to Catherines supervisor. She
The financial statement presentation of debt securities categorized as trading, held-to-maturity, or available-for-sale as of March 31, 2018, is due shortly to Catherines supervisor. She has received lists of the securities and balance sheet amounts from the IT department. However, one list of securities links together the security ID, the security name, the security category, and whether it is short-term or long-term. A second list contains the security ID and balance sheet amount(s). Catherine will have to manipulate the data to obtain the information she needs.
Split the contents of LIST 1 into separate cells. Use functions LEFT, MID, RIGHT, FIND and VALUE as needed. List 1 Short-term or Long-term Security ID Description Category Split the contents of LIST 2 into separate cells. Add a column to List 2 that calculates the lower of cost or fair value by security using the function MIN. List 2 Lower of Cost or Fair Value Security ID Cost Fair Value Create a new list of securities that has Description. Category, Short-term or long-term, and tower of Cost or Fair Value. Use VLOOKUP(with an exact match) to create the list using both List 1 and List 2. Combined Lists Security ID Description Category Short-term or Lower of Cost or Long-term Fair Value Copy the new list and paste values to a new location below). Sort securities as to time short-term or long-term) in reverse alphabetical order, then sort by category in reverse alphabetical order) Security ID Short-term or Lower of Cost of Long-term Fair Value Description Category Copy the sorted list and paste values to a new location below). Subtotal the lower of cost or market of the securities, first by time (short-term or long-term, then by category (trading, HTM, or AFS). On the second subtotal, do not remove the previous subtotals. Security ID Short-term or Long term Category Lower of Cost or Fair Value Description The financial statement presentation of debt securities categorized as trading, HTM, or AFS as of March 31, 2018, is due shortly.
Upon examination of the two lists of securities, Catherine noticed the following keys to the data:
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