At December 31, 2024, Hull-Meyers Corporation had the following Investments that were purchased during 2024, 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 Required: Complete the following table. Note: Amounts to be deducted should be indicated with a minus sign. Totals Amortized cost Reported on Balance Sheet as: No Investments were sold during 2024. All securities except Security D and Security F are considered short-term Investments. None of the fair value changes is considered permanent. Current assets Noncurrent assets $ 0 $ $ 965,000 170,000 $ 1,135,000 $ 765,000 965,000 $ 1,730,000 0 $ 555,000 680,000 $ 1,235,000 Net Income $ Fair Value $ 979,500 164, 600 $ 1,144,100 0 $ 838,500 982,600 $ 1,821,100 $ 566,300 674,700 $ 241,000 Unrealized gain (loss) included in: Other Total Comprehensive Comprehensive Income (OCI) Income $ $ $ $ $ $ $ $ 0 0 0 0 0 0 0
At December 31, 2024, Hull-Meyers Corporation had the following Investments that were purchased during 2024, 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 Required: Complete the following table. Note: Amounts to be deducted should be indicated with a minus sign. Totals Amortized cost Reported on Balance Sheet as: No Investments were sold during 2024. All securities except Security D and Security F are considered short-term Investments. None of the fair value changes is considered permanent. Current assets Noncurrent assets $ 0 $ $ 965,000 170,000 $ 1,135,000 $ 765,000 965,000 $ 1,730,000 0 $ 555,000 680,000 $ 1,235,000 Net Income $ Fair Value $ 979,500 164, 600 $ 1,144,100 0 $ 838,500 982,600 $ 1,821,100 $ 566,300 674,700 $ 241,000 Unrealized gain (loss) included in: Other Total Comprehensive Comprehensive Income (OCI) Income $ $ $ $ $ $ $ $ 0 0 0 0 0 0 0
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Transcribed Image Text:At December 31, 2024, Hull-Meyers Corporation had the following Investments that were purchased during 2024, 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
Required:
Complete the following table.
Note: Amounts to be deducted should be indicated with a minus sign.
Totals
Amortized cost
Reported on Balance Sheet as:
No Investments were sold during 2024. All securities except Security D and Security F are considered short-term Investments. None of
the fair value changes is considered permanent.
Current assets Noncurrent assets
$
0 $
$ 965,000
170,000
$ 1,135,000
$ 765,000
965,000
$ 1,730,000
0
$ 555,000
680,000
$ 1,235,000
Net Income
$
Fair Value
$ 979,500
164, 600
$ 1,144,100
0
$ 838,500
982,600
$ 1,821,100
$ 566,300
674,700
$ 241,000
Unrealized gain (loss) included in:
Other
Total
Comprehensive Comprehensive
Income (OCI) Income
$
$
$
$
$
$
$
$
0
0
0
0
0
0
0
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