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: Fair Value Fair Value Amortized Cost Amortized Cost 12/31/2020 12/31/2021 12/31/2020 12/31/2021 АВС Со. Вonds $385,000 $410,000 $377,500 $370, 000 Fair Value Fair Value Trading Securities: 12/31/2020 12/31/2021 Cost $ 55,000 $ 57,000 $ 54,000 $ 66,000 $ 87,000 $ 48,500 $ 69,100 $ 49,000 $ 42,900 DEF Co. Bonds GEH Inc. Bonds IJK Inc. Bonds Available-for-Sale Fair Value Fair Value Cost Securities: 12/31/2020 12/31/2021 LMN Co. Bonds $147,400 $161,900 $150, 000 What balance sheet amount would Beresford report for the total of its investments in bonds at 12/31/2020?

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: Fair Value Fair Value Amortized Cost Amortized Cost 12/31/2020 12/31/2021 12/31/2020 12/31/2021 АВС Со. Вonds $385,000 $410,000 $377,500 $370, 000 Fair Value Fair Value Trading Securities: 12/31/2020 12/31/2021 Cost $ 55,000 $ 57,000 $ 54,000 $ 66,000 $ 87,000 $ 48,500 $ 69,100 $ 49,000 $ 42,900 DEF Co. Bonds GEH Inc. Bonds IJK Inc. Bonds Available-for-Sale Fair Value Fair Value Cost Securities: 12/31/2020 12/31/2021 LMN Co. Bonds $147,400 $161,900 $150, 000 What balance sheet amount would Beresford report for the total of its investments in bonds at 12/31/2020?

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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