Reference no: EM132719269
company report following investment 12/31/19
Amoco Co. bonds (hold to maturity) $330 cost $290 market
BP Corp bonds (available for sale) 800 cost 825 market
Chevron Inc bonds (trading) 550 cost 515 market
Delta Gas stock (available for sale) 1,100 cost 1,600 market
Esso Petroleum stock (trading) 1,500 cost 950 market
All investments were purchased during the year ending 12/31/19 and have never been adjusted to date.
Problem 1. Explain at what value each of these investments is reported on their balance sheet.
Problem 2. For each investment which will be reported at a value other than its cost, indicate how the unrealized value fluctuation will impact the ending balance of the retained earnings account for the year ended 12/31/19.
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