Finance > LECTURE NOTES > LPC Notes Equity Finance Revision Notes (Distinction Level) 2023 (All)
Which of the following investment securities held by Zoogle Inc. are not reported at fair value in its balance sheet? - -Debt securities held-to-maturity. -If Dinsburry Company concluded that an in... vestment originally classified as a trading security would now more appropriately be classified as held-to-maturity, Dinsburry would: - -Reclassify the investment as held-to-maturity and immediately recognize in net income all unrealized holding gains and losses that have not already been recognized as of the reclassification date. -Hobson Company bought the securities listed below during 2020. These securities were classified as trading securities. In its December 31, 2020, income statement Hobson reported a net unrealized holding loss of $13,000 on these securities. Pertinent data at the end of June 2021 is as follows: SecurityCostFair ValueX$380,000 $352,000 Y 180,000 160,000 Z 420,000 414,000 What amount of unrealized holding loss on these securities should Hobson include in its income statement for the six months ended June 30, 2021? - -$41,000. [Show More]
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