
Trading Securities:
The short-term securities which bought with trading purpose and gain some profit from the appreciation of share price is called trading securities. It is reported at fair market value in the financial statement.
Available-For-Sale:
Investment in securities with the purpose of neither trading nor holding it till maturity is called available for sale securities. It is reported at fair market value.
Held-To-Maturity:
The long-term or short-term securities which are held till the date of maturity are called Held-To-Maturity securities. Held-To-Maturity securities are reported cost with the discount or premium.
Determine:
1. Splitting the contents of the two lists into separate cells using LEFT, MID, RIGHT and VALUE.
2. Add a column to list 2 and Compute the lower of cost or fair value of securities using MIN function.
3. Create a new list of securities with columns of Description, Category, Short-term or Long-term and sort by category in reverse alphabetical order.
4. Copy the new list to a new location and sort securities as to whether they are short-term or long-term and then sort by category.
5. Subtotal the securities first by time and then by category.
6. Compress the information so that only the subtotals appear.

Want to see the full answer?
Check out a sample textbook solution
Chapter 15 Solutions
Horngren's Accounting, The Financial Chapters (12th Edition)
- PrimeGear has fixed costs of 2,880,000 and variable costs per unit of 185 during a trading year. It is sold to wholesalers at 250 per unit. Calculate: (i) the number of units that must be sold in order to break even. (ii) the level of output required to provide a profit of 520,000. Helparrow_forwardLynn Inc has provided the following data from its activity-based systemarrow_forwardWhat is the equity premiumarrow_forward
- AccountingAccountingISBN:9781337272094Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.Publisher:Cengage Learning,Accounting Information SystemsAccountingISBN:9781337619202Author:Hall, James A.Publisher:Cengage Learning,
- Horngren's Cost Accounting: A Managerial Emphasis...AccountingISBN:9780134475585Author:Srikant M. Datar, Madhav V. RajanPublisher:PEARSONIntermediate AccountingAccountingISBN:9781259722660Author:J. David Spiceland, Mark W. Nelson, Wayne M ThomasPublisher:McGraw-Hill EducationFinancial and Managerial AccountingAccountingISBN:9781259726705Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting PrinciplesPublisher:McGraw-Hill Education





