ot considered permanent. eld-to-Maturity Securities: Fair Value 12/31/2023 Fair Value 12/31/2024 Amortized Cost 12/31/ ABC Company Bonds $389,000 $ 414,000 $381,500 Fair Value 12/31/2023 Fair Value 12/31/2024 $ 59,000 $ 61,000 $ 58,000 Trading Securities: DEF Company Bonds GEH Incorporated Bonds IJK Incorporated Bonds vailable-for-Sale Cost $ 75,400 $ 53,000 $ 46,900 Cost $ 154,000 hat balance sheet amount would Beresford report for the total of its investments in bonds at 12 ultiple Choice 12,900 20,400 00,700 $70,000 $ 91,000 $ 52,500 Securities: Fair Value 12/31/2023 Fair Value 12/31/2024 $ 153,400 $ 166,700 LMN Company Bonds
ot considered permanent. eld-to-Maturity Securities: Fair Value 12/31/2023 Fair Value 12/31/2024 Amortized Cost 12/31/ ABC Company Bonds $389,000 $ 414,000 $381,500 Fair Value 12/31/2023 Fair Value 12/31/2024 $ 59,000 $ 61,000 $ 58,000 Trading Securities: DEF Company Bonds GEH Incorporated Bonds IJK Incorporated Bonds vailable-for-Sale Cost $ 75,400 $ 53,000 $ 46,900 Cost $ 154,000 hat balance sheet amount would Beresford report for the total of its investments in bonds at 12 ultiple Choice 12,900 20,400 00,700 $70,000 $ 91,000 $ 52,500 Securities: Fair Value 12/31/2023 Fair Value 12/31/2024 $ 153,400 $ 166,700 LMN Company Bonds
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Do not give answer in image and hand writing
Transcribed Image Text:Beresford Incorporated purchased several investments in debt securities during 2023, its first year of operations. The following information pertains to these securities. The fluctuations in their fair values are
not considered permanent.
Held-to-Maturity Securities: Fair Value 12/31/2023 Fair Value 12/31/2024 Amortized Cost 12/31/2023 Amortized Cost 12/31/2024
$ 389,000
$ 414,000
$ 381,500
$ 374,000
ABC Company Bonds
Trading Securities:
Cost
$ 70,000
DEF Company Bonds
GEH Incorporated Bonds
T
$ 75,400
$ 61,000
$ 91,000
$ 53,000
IJK Incorporated Bonds
$ 58,000
$ 52,500
$ 46,900
Available-for-Sale Securities: Fair Value 12/31/2023 Fair Value 12/31/2024
LMN Company Bonds
$ 166,700
Cost
$ 154,000
$ 153,400
What balance sheet amount would Beresford report for the total of its investments in bonds at 12/31/2023?
Multiple Choice
$712,900
$720,400
$700,700
None of these answer choices are correct.
Fair Value 12/31/2023 Fair Value 12/31/2024
$ 59,000
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