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What total unrealized holding gain would Beresford report in its 2021 income statement relative to its investments in bonds? Multiple Choice $43,900 $29,000 $61,900 $43,900

What total unrealized holding gain would Beresford report in its 2021 income statement relative to its investments in bonds? Multiple Choice $43,900 $29,000 $61,900 $43,900

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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5:07 Beresford Inc. purchased several investments in debt securities during 2020, 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: ABC Co. Bonds Trading Securities: DEF Co. Bonds GEH Inc. Bonds IJK Inc. Bonds: Available-for-Sale Securities LMN Co. Bonds Fair Value 12/31/2020 $379,000 Fair Value 12/31/2020 $ 52,000 $ 51,000 $ 48,000 Fair Value 12/31/2020 $136,900 Fair Value 12/31/2021 $404,000 Fair Value 12/31/2021 $ 63,500 $ 74,000 $ 42,500 Fair Value 12/31/2021 $151,800 Amortized Cost 12/31/2020 $371,500 Cost $ 66,000 $ 43,000 $36,900 Cost $144,000 Amortized Cost 12/31/2021 $364,000 What total unrealized holding gain would Beresford report in its 2021 income statement relative to its investments in bonds?
Transcribed Image Text:5:07 Beresford Inc. purchased several investments in debt securities during 2020, 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: ABC Co. Bonds Trading Securities: DEF Co. Bonds GEH Inc. Bonds IJK Inc. Bonds: Available-for-Sale Securities LMN Co. Bonds Fair Value 12/31/2020 $379,000 Fair Value 12/31/2020 $ 52,000 $ 51,000 $ 48,000 Fair Value 12/31/2020 $136,900 Fair Value 12/31/2021 $404,000 Fair Value 12/31/2021 $ 63,500 $ 74,000 $ 42,500 Fair Value 12/31/2021 $151,800 Amortized Cost 12/31/2020 $371,500 Cost $ 66,000 $ 43,000 $36,900 Cost $144,000 Amortized Cost 12/31/2021 $364,000 What total unrealized holding gain would Beresford report in its 2021 income statement relative to its investments in bonds?
What total unrealized holding gain would Beresford report in its 2021 income statement relative to its investments in bonds? Multiple Choice O $43,900. $29,000. $61,900 $43,900.
Transcribed Image Text:What total unrealized holding gain would Beresford report in its 2021 income statement relative to its investments in bonds? Multiple Choice O $43,900. $29,000. $61,900 $43,900.
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