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At December 31, 2021, Hull-Meyers Corp. had the following investments that were purchased during 2021, its first year of operations: Trading Securities: Security A Security B Totals Securities Available-for-Sale: Security C Security D Totals Securities to Be Held-to-Maturity: Security E Security F Totals Trading Securities Security A Security B Securities Available-for-Sale Security C Security D Securities to be Held-to-Maturity Security E Security F Totals Reported on Balance Sheet as: Amortized cost Current assets $ 905,000 110,000 $1,015,000 No investments were sold during 2021. All securities except Security D and Security F are considered short-term investments. None of the fair value changes is considered permanent. Noncurrent assets $ 705,000 905,000 $1,610,000 Required: Complete the following table. (Amounts to be deducted should be indicated with a minus sign.) $ 495,000 620,000 $1,115,000 Fair Value. $ 915,500 104,900 $1,020,400 $ 784,500 920, 200 $1,704,700 $ 505,200 614,900 $1,120,100 Net Income (1/S) Unrealized gain (loss) included in: Other Total Comprehensive Comprehensive Income (OCI) Income

At December 31, 2021, Hull-Meyers Corp. had the following investments that were purchased during 2021, its first year of operations: Trading Securities: Security A Security B Totals Securities Available-for-Sale: Security C Security D Totals Securities to Be Held-to-Maturity: Security E Security F Totals Trading Securities Security A Security B Securities Available-for-Sale Security C Security D Securities to be Held-to-Maturity Security E Security F Totals Reported on Balance Sheet as: Amortized cost Current assets $ 905,000 110,000 $1,015,000 No investments were sold during 2021. All securities except Security D and Security F are considered short-term investments. None of the fair value changes is considered permanent. Noncurrent assets $ 705,000 905,000 $1,610,000 Required: Complete the following table. (Amounts to be deducted should be indicated with a minus sign.) $ 495,000 620,000 $1,115,000 Fair Value. $ 915,500 104,900 $1,020,400 $ 784,500 920, 200 $1,704,700 $ 505,200 614,900 $1,120,100 Net Income (1/S) Unrealized gain (loss) included in: Other Total Comprehensive Comprehensive Income (OCI) Income

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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At December 31, 2021, Hull-Meyers Corp. had the following investments that were purchased during 2021, its first year of operations: Trading Securities: Security A Security B Totals Securities Available-for-Sale: Security C Security D Totals Securities to Be Held-to-Maturity: Security E Security F Totals Trading Securities Security A Security B Securities Available-for-Sale Security C Security D Securities to be Held-to-Maturity Security E Security F Totals Amortized cost Reported on Balance Sheet as: Current assets $ 905,000 110,000 $1,015,000 Noncurrent assets $ 705,000 905,000 $1,610,000 $ 495,000 620,000 $1,115,000 No investments were sold during 2021. All securities except Security D and Security F are considered short-term investments. None of the fair value changes is considered permanent. Required: Complete the following table. (Amounts to be deducted should be indicated with a minus sign.) Fair Value $915,500 104,900 $1,020,400 $ 784,500 920, 200 $1,704,700 Net Income (I/S) $ 505,200 614,900 $1,120,100 Unrealized gain (loss) included in: Other Total Comprehensive Comprehensive Income (OCI) Income
Transcribed Image Text:At December 31, 2021, Hull-Meyers Corp. had the following investments that were purchased during 2021, its first year of operations: Trading Securities: Security A Security B Totals Securities Available-for-Sale: Security C Security D Totals Securities to Be Held-to-Maturity: Security E Security F Totals Trading Securities Security A Security B Securities Available-for-Sale Security C Security D Securities to be Held-to-Maturity Security E Security F Totals Amortized cost Reported on Balance Sheet as: Current assets $ 905,000 110,000 $1,015,000 Noncurrent assets $ 705,000 905,000 $1,610,000 $ 495,000 620,000 $1,115,000 No investments were sold during 2021. All securities except Security D and Security F are considered short-term investments. None of the fair value changes is considered permanent. Required: Complete the following table. (Amounts to be deducted should be indicated with a minus sign.) Fair Value $915,500 104,900 $1,020,400 $ 784,500 920, 200 $1,704,700 Net Income (I/S) $ 505,200 614,900 $1,120,100 Unrealized gain (loss) included in: Other Total Comprehensive Comprehensive Income (OCI) Income
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