3. Brown Corp. purchased several investment securities during 2015, its first year of operation. The following informati...
3. Brown Corp. purchased several investment securities during 2015, its first year of operation. The following information pertains to these securities (as of 12/31/2015):
|
Fair value |
Amortized cost |
|
|
HTM |
||
|
ABC bonds |
300,000 |
350,000 |
|
Insignificant influence equity |
||
|
BCD stock |
200,000 |
100,000 |
|
CDE stock |
400,000 |
500,000 |
|
AFS |
||
|
DEF bonds |
500,000 |
550,000 |
What is the total $ value reported on Brown’s B/S on 12/31/2015?
Homework Answers
Held to maturity debt securities are valued at amortized cost at year end, so $ value of HTM is:
ABC bonds = $350000
When there is a insignificant influence of equity, then the investment is valued at fair value on balance sheet date. So, $ value of insignificant equity is:
BCD Stock = $200000
CDE Stock = $400000
Total = $600000
Available for sale bond securities are valued at fair value on the balance sheet date. So, $ value of AFS is:
DEF bonds = $500000
Total $ value of investment on Brown's B/S on 12 /31/2015 is:
| Description | Amount |
| HTM | $350000 |
| Insignificant debt securities | $600000 |
| AFS | $500000 |
| Total investment | $1450000 |
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