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Cost Fair value
Man Co. $10,000 $8,000
Kemo, Inc.9,000 11,000
Fenn Corp.11,000 9,000
$28,000 $30,000 Total
Ott’s December31 balance sheet should report the trading securities as
A. $26,000
B. $28,000
C. $29,000
D. $30,000
B. $28,000 if that's held for trading
Accept with mr krishna ....
Reporting of Trading securities are as per Fair value whereas held to Maturity stocks are reported at Depreciated/amortized value.
Answer option (B) $28,000/-
