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Complete the following table.

Complete the following table.

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: Fair Value $ 937,500 124,500 $1,062,000 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 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. Current assets $ 925,000 130,000 $1,055,000 Required: Complete the following table. (Amounts to be deducted should be indicated with a minus sign.) Noncurrent assets $ 725,000 925,000 $1,650,000 $ 515,000 640,000 $1,155,000 $ 802,500 941,000 $1,743,500 $ 525,500 634,500 $1,160,000 Net Income (1/S) 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: Fair Value $ 937,500 124,500 $1,062,000 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 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. Current assets $ 925,000 130,000 $1,055,000 Required: Complete the following table. (Amounts to be deducted should be indicated with a minus sign.) Noncurrent assets $ 725,000 925,000 $1,650,000 $ 515,000 640,000 $1,155,000 $ 802,500 941,000 $1,743,500 $ 525,500 634,500 $1,160,000 Net Income (1/S) Unrealized gain (loss) included in: Other Total Comprehensive Comprehensive Income (OCI) Income
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