A22 Beresford Inc. purchased several investments in debt securities during 2020, its firstyear of operations. The following information pertains to these securities. Thefluctuations in their fair values are not considered permanent.Held-to-MaturitySecurities:ABC Co. BondsTrading Securities:DEF Co. BondsGEH Inc. BondsIJK Inc. BondsAvailable-for-SaleSecurities:LMN Co. BondsFair Value Fair Value12/31/2020 12/31/2021$19,900.$12,500.$ 58,000$ 60,000$ 57,000Fair Value12/31/202012/31/2021$388,000 $413,000 $380,500 $ 373,000Fair Value Fair Value12/31/202012/31/2021$ 69,000$ 90,000$ 51,500Fair Value12/31/202012/31/2021AmortizedCost$578,500.None of these answer choices are correct.Cost$ 74,400$ 52,000$ 45,900Cost$ 151,400 $165,500 $ 153,000AmortizedCostWhat would be the balance in Beresford's accumulated other comprehensive incomewith respect to these investments in its 12/31/2021 balance sheet (ignore taxes)?

Bonds -Companies issue bonds, which are traded assets that are securitized from their corporate…

Beresford Inc. purchased several investments in debt securities during 2020, year of operations. The following information pertains to these securities. Th fluctuations in their fair values are not considered permanent. Held-to-Maturity Securities: ABC Co. Bonds Trading Securities: Fair Value Fair Value 12/31/202012/31/2021 Amortized Cost Amorti Cost 12/31/2020 12/31/ $380,500 $ 373, $388,000 $413,000 Fair Value Fair Value 12/31/202012/31/2021 Cost

Beresford Inc. purchased several investments in debt securities during 2020, year of operations. The following information pertains to these securities. Th fluctuations in their fair values are not considered permanent. Held-to-Maturity Securities: ABC Co. Bonds Trading Securities: Fair Value Fair Value 12/31/202012/31/2021 Amortized Cost Amorti Cost 12/31/2020 12/31/ $380,500 $ 373, $388,000 $413,000 Fair Value Fair Value 12/31/202012/31/2021 Cost

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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