At December 31, 2018, Hull-Meyers Corp. had the following investments that were purchased during 2018,...
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Accounting
At December 31, 2018, Hull-Meyers Corp. had the following investments that were purchased during 2018, its first year of operations:
Cost | Fair Value | ||||||
Trading Securities: | |||||||
Security A | $ | 905,000 | $ | 915,500 | |||
Security B | 110,000 | 104,900 | |||||
Totals | $ | 1,015,000 | $ | 1,020,400 | |||
Securities Available-for-Sale: | |||||||
Security C | $ | 705,000 | $ | 784,500 | |||
Security D | 905,000 | 920,200 | |||||
Totals | $ | 1,610,000 | $ | 1,704,700 | |||
Securities to Be Held-to-Maturity: | |||||||
Security E | $ | 495,000 | $ | 505,200 | |||
Security F | 620,000 | 614,900 | |||||
Totals | $ | 1,115,000 | $ | 1,120,100 | |||
No investments were sold during 2018. All securities except Security D and Security F are considered short-term investments. None of the fair value changes is considered permanent.
Reported on Balance sheet as: Unrealized gain (loss) included in:
current assessts | noncurrent assets | net income | other comprehensive income | Totel Comprehensive income | |
Trading securities | |||||
Security A | 970,500 | ||||
Security B | 154,200 | ||||
Securities Avalabile for sale | |||||
Security C | 829,500 | ||||
Security D | |||||
Securities to be held until maturity | |||||
Security E | 545,000 | ||||
Security F | |||||
Totals: | $ | $ | $ | $ | $ |
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