SunTrust Bank carries portfolios of both trading securities and available- for-sale securities. At the end of 2022 and 2021, the trading securities were valued at $128.7 billion and $156.2 billion, respectively; and the available-for-sale securities were valued at $83.5 billion and $67.3 billion, respectively. Together, the investments comprise about 30 percent of the company's total assets as of December 31, 2022. Unrealized gains reported on the 2022 income statement totalled $4.6 billion. a. Trading securities are carried on the balance sheet at market value. Compute the net decrease in the investment in trading securities during 2022.

SunTrust Bank carries portfolios of both trading securities and available- for-sale securities. At the end of 2022 and 2021, the trading securities were valued at $128.7 billion and $156.2 billion, respectively; and the available-for-sale securities were valued at $83.5 billion and $67.3 billion, respectively. Together, the investments comprise about 30 percent of the company's total assets as of December 31, 2022. Unrealized gains reported on the 2022 income statement totalled $4.6 billion. a. Trading securities are carried on the balance sheet at market value. Compute the net decrease in the investment in trading securities during 2022.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter13: Investments And Long-term Receivables

Section: Chapter Questions

Problem 2MC: During 2021, Anthony Company purchased debt securities as a long-term investment and classified them...

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