Reference no: EM131802759
Question - At December 31, 2011, Hull-Meyers Corp. had the following investments that were purchased during 2011, its first year of operations:
Cost Fair Value
Trading Securities
Security A $900,000 $910,000
Security B 105,000 100,000
Totals $1,005,000 $1,010,000
Securities Available for Sale:
Security C $700,000 780,000
Security D 900,000 915,000
Totals $1,600,000 1,695,000
Securities to Be Held-to-Maturity:
Security E $490,000 $500,000
Security F 615,000 610,000
Totals $1,105,000 $1,110,000
No investments were sold during 2011. All securties except Security D and Security F are considered short-term investments. None of the fair value changes is considered permanent.
Required: Determine the following amounts at December 31, 2011:
Investments reported as current assets.
Investments reported as noncurrent assets.
Unrealized gain (or loss) component of income before taxes.
Unrealized gain (or loss) component of accumulated other comprehensive income in shareholders' equity.
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