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.

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Answer 1

Question

Chapter 15, Problem P15.24CT

To determine

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.

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Answer 2

Question

Chapter 15, Problem P15.24CT

To determine

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.

Expert Solution & Answer

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Answer 3

Question

Chapter 15, Problem P15.24CT

To determine

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.

Expert Solution & Answer

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Answer 4

Question

Chapter 15, Problem P15.24CT

To determine

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.

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Answer 5

Chapter 15, Problem P15.24CT

To determine

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.

Answer 6

Chapter 15, Problem P15.24CT

To determine

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.

Answer 7

Chapter 15, Problem P15.24CT

To determine

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.

Answer 8

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Answer 9

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Answer 10

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Answer 11

Ch. 15 - Prob. 1QC Ch. 15 - Which of the following investments is most likely...Ch. 15 - Prob. 3QC Ch. 15 - A company invested $45,000 in Yale Co. stock. The...Ch. 15 - Prob. 5QC Ch. 15 - Prob. 6QC Ch. 15 - Prob. 7QC Ch. 15 - Prob. 8QC Ch. 15 - Prob. 9QC Ch. 15 - Prob. 10QC

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