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 | $ | 970,000 | $ | 984,000 | |||
Security B | 175,000 | 169,800 | |||||
Totals | $ | 1,145,000 | $ | 1,153,800 | |||
Securities Available-for-Sale: | |||||||
Security C | $ | 770,000 | $ | 843,000 | |||
Security D | 970,000 | 987,800 | |||||
Totals | $ | 1,740,000 | $ | 1,830,800 | |||
Securities to Be Held-to-Maturity: | |||||||
Security E | $ | 560,000 | $ | 571,400 | |||
Security F | 685,000 | 679,600 | |||||
Totals | $ | 1,245,000 | $ | 1,251,000 | |||
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. Required: Compute the below table to calculate the following. (Amounts to be deducted should be indicated with a minus sign.)
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