At December 31, 2021, Hull-Meyers Corp. had the following investments that were purchased during 2021, its first year of operations: Amortized cost Fair Value Trading Securities: Security A $ 980,000 $ 993,000 Security B 185,000 180,200 Totals $ 1,165,000 $ 1,173,200 Securities Available-for-Sale: Security C $ 780,000 $ 852,000 Security D 980,000 998,200 Totals $ 1,760,000 $ 1,850,200 Securities to Be Held-to-Maturity: Security E $ 570,000 $ 581,600 Security F 695,000 689,400 Totals $ 1,265,000 $ 1,271,000 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.)
At December 31, 2021, Hull-Meyers Corp. had the following investments that were purchased during 2021, its first year of operations: Amortized cost Fair Value Trading Securities: Security A $ 980,000 $ 993,000 Security B 185,000 180,200 Totals $ 1,165,000 $ 1,173,200 Securities Available-for-Sale: Security C $ 780,000 $ 852,000 Security D 980,000 998,200 Totals $ 1,760,000 $ 1,850,200 Securities to Be Held-to-Maturity: Security E $ 570,000 $ 581,600 Security F 695,000 689,400 Totals $ 1,265,000 $ 1,271,000 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.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
At December 31, 2021, Hull-Meyers Corp. had the following investments that were purchased during 2021, its first year of operations:
| Amortized cost | Fair Value | ||||||
| Trading Securities: | |||||||
| Security A | $ | 980,000 | $ | 993,000 | |||
| Security B | 185,000 | 180,200 | |||||
| Totals | $ | 1,165,000 | $ | 1,173,200 | |||
| Securities Available-for-Sale: | |||||||
| Security C | $ | 780,000 | $ | 852,000 | |||
| Security D | 980,000 | 998,200 | |||||
| Totals | $ | 1,760,000 | $ | 1,850,200 | |||
| Securities to Be Held-to-Maturity: | |||||||
| Security E | $ | 570,000 | $ | 581,600 | |||
| Security F | 695,000 | 689,400 | |||||
| Totals | $ | 1,265,000 | $ | 1,271,000 | |||
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.)
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