Question

Exercise 12-14 (Algo) Various investment securities (LO12-2, 12-3, 12-4) At December 31, 2021, Hull-Meyers Corp. had the following investments that were purchased during 2021, its first year of operations: Amortized cost Fair Value $ 920,000 125,000 $1,045,000 $ 932,000 119,600 $1,051,600 Trading Securities: Security A Security B Totals Securities Available-for-Sale: Security C Security D Totals Securities to Be Held-to-Maturity: Security E Security F Totals $ 720,000 920,000 $1,640,000 $ 798,000 935,800 $1,733,800 $ 510,000 635,000 $1,145,000 $ 520,500 629,600 $1,150,100 No investments were sold during 2021. All securities except Security D and Security Fare considered short-term investments. None of the fair value changes is considered permanent. Required: Complete the following table. (Amounts to be deducted should be indicated with a minus sign.)

Answer 1

	Reported on Balance sheet		Unrealsied gain/(loss) included in
	Current Assets	Non current assets	Net income (I/S)	OCI	Total comprehensive income
trading
A	932000		12000		12000
B	119600		-5400		-5400
AFS
C	798000			78000	78000
D		935800		15800	15800
HTM
E	510000
F		635000
Totals	2359600	1570800	6600	93800	100400

Working
1	Investments reported as current assets
	Security A	932000
	Security B	119600
	Security C	798000
	Security E	510000
	Total	2359600
2	Investments as non current assets
	Security D	935800
	Security F	635000
	Total	1570800
3	Unrealised gain(or loss) component of income before taxes
		Cost	FV	Unrealised gain (loss)
	Security A	920000	932000	12000
	Security B	125000	119600	-5400
		1045000	1051600	6600
4	Unrealised gain(or loss) component of AOCI
		Cost	FV	Unrealised gain (loss)
	Security C	720000	798000	78000
	Security D	920000	935800	15800
		1640000	1733800	93800