PROVIDE ANSWER IN ENGLISH ONLY USED ATTACHED IMAGE FOR INFORMATION a. Show how each of these investments are reported on the Munger.Com balance sheet.b. For assets that are marked to market, indicate where the unrealized value fluctuation is reported(in net income and/or in comprehensive income).For reference check a) total securities is , $4,220 Munger.Com began operations on January 1, 2006. The company reports the following informa-tion about its investments at December 31, 2006:Current assets ($ in thousands)Investments in marketable debt securities:Able Corp. bonds (held-to-maturity)..Bryan Co. bonds (available-for-sale)Caltran, Inc. bonds (trading)Investments in marketable equity securities:Available-for-sale..Trading..Cost$ 3308005501,1101,500Market$ 2908255151,600950

Investments are part of assets that are represented as investments in cash or investments in…

Answered: Munger.Com began operations on January…

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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PROVIDE ANSWER IN ENGLISH ONLY USED ATTACHED IMAGE FOR INFORMATION

a. Show how each of these investments are reported on the Munger.Com balance sheet.

b. For assets that are marked to market, indicate where the unrealized value fluctuation is reported(in net income and/or in comprehensive income).

For reference check a) total securities is , $4,220

Munger.Com began operations on January 1, 2006. The company reports the following informa-
tion about its investments at December 31, 2006:
Current assets ($ in thousands)
Investments in marketable debt securities:
Able Corp. bonds (held-to-maturity)..
Bryan Co. bonds (available-for-sale)
Caltran, Inc. bonds (trading)
Investments in marketable equity securities:
Available-for-sale..
Trading..
Cost
$ 330
800
550
1,110
1,500
Market
$ 290
825
515
1,600
950

Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

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