During 2020, Osgood Corporation purchased several investments in debt securities. 2020 is Osgood's 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: ABC Co. Bonds Trading Securities: DEF Co. Bonds GEH Inc. Bonds IJK Inc. Bonds Available-for-sale Securities: LMN Co. Bonds Fair Value Fair Value 12/31/2020 12/31/2021 $389, 000 $414,000 Fair Value 12/31/2020 $ 59,000 $ 61,000 $ 58,000 Fair Value 12/31/2020 $153, 400 Fair Value 12/31/2021 $70,000 $94, 100 $ 52,500 Fair Value 12/31/2021 $166, 700 Amortized Cost 12/31/2020 $381,500 ▸ Cost $ 75,400 $ 53,000 $ 46,900 Cost $154,000 Amortized Cost 12/31/2021 $374,000 Help Save & Exit What total unrealized holding gain would Osgood report in its 2021 Income statement relative to its investments in bonds? Sub

During 2020, Osgood Corporation purchased several investments in debt securities. 2020 is Osgood's 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: ABC Co. Bonds Trading Securities: DEF Co. Bonds GEH Inc. Bonds IJK Inc. Bonds Available-for-sale Securities: LMN Co. Bonds Fair Value Fair Value 12/31/2020 12/31/2021 $389, 000 $414,000 Fair Value 12/31/2020 $ 59,000 $ 61,000 $ 58,000 Fair Value 12/31/2020 $153, 400 Fair Value 12/31/2021 $70,000 $94, 100 $ 52,500 Fair Value 12/31/2021 $166, 700 Amortized Cost 12/31/2020 $381,500 ▸ Cost $ 75,400 $ 53,000 $ 46,900 Cost $154,000 Amortized Cost 12/31/2021 $374,000 Help Save & Exit What total unrealized holding gain would Osgood report in its 2021 Income statement relative to its investments in bonds? Sub

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter13: Investments And Long-term Receivables

Section: Chapter Questions

Problem 2MC: During 2021, Anthony Company purchased debt securities as a long-term investment and classified them...

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