Waterton Corporation reported that short-term investments in debt securities consisted of the following (in millions): Amortized Cost Fair Value December 31 Short-term investments- available-for-sale debt securities $1,373.6 $1,373.8 Short-term investments-trading debt securities 161.8 132.0 Total short-term investments $1,535.4 $1,505.8 Which of the following is true? Select one: a. Unrealized losses of $29.8 million on trading securities are included in annual income. b. Waterton's year-end balance sheet includes short-term investments of $1,535.4 million. c. There are no net unrealized gains on available-for-sale securities. d. Accumulated other comprehensive income included no unrealized gains or losses. e. None of these are correct

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Waterton Corporation reported that short-term investments in debt securities consisted of the following (in millions):
Amortized Cost Fair Value December 31 Short-term investments available - for - sale debt securities $1,373.6 $1,373.8
Short-term investments-trading debt securities 161.8 132.0 Total short-term investments $1,535.4 $1,505.8 Which of
the following is true? Select one: a. Unrealized losses of $29.8 million on trading securities are included in annual
income. b. Waterton's year-end balance sheet includes short-term investments of $1,535.4 million. c. There are no
net unrealized gains on available-for-sale securities. d. Accumulated other comprehensive income included no
unrealized gains or losses. e. None of these are correct
Transcribed Image Text:Waterton Corporation reported that short-term investments in debt securities consisted of the following (in millions): Amortized Cost Fair Value December 31 Short-term investments available - for - sale debt securities $1,373.6 $1,373.8 Short-term investments-trading debt securities 161.8 132.0 Total short-term investments $1,535.4 $1,505.8 Which of the following is true? Select one: a. Unrealized losses of $29.8 million on trading securities are included in annual income. b. Waterton's year-end balance sheet includes short-term investments of $1,535.4 million. c. There are no net unrealized gains on available-for-sale securities. d. Accumulated other comprehensive income included no unrealized gains or losses. e. None of these are correct
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