acc_423_week_1_individual_assignme...

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acc_423_week_1_individual_assignme...

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P17-1a. 31-Dec-04Held-to-maturity securitiesCashb. 31-Dec-05Interest receivableInterest revenueHeld-to-maturity securitiesc.CashHeld to Maturity SecuritiesInterest Revenued.Available for Sale SecuritiesCash108,660108,6607,0005,4331,567700017285272108,660108,660e.December 31, 2005Interst ReceivableAvailable for sale securitiesInterest RevenueUnrealized holing gain or loss - EquitySecurities fair value adjustment (available for sale)(107,093 - 106,500)$7,000$1,567$5,433$593$593f.December 31, 2007Interest receivableAvailable for sale securitiesInterest revenueUnrealized Holding Gain or Loss - EquitySecurities fair value adjustment (available for sale)$7,000$1,728$5,272($122)($122)P17-9(a) What should be reported on Woolfords December 31, 2006, balance sheet relative to these longtermavailable-for-sale securities?CostFavre, Inc.Brady Corp.McNabb CompanyTotal portfolioFair ValueUnrealized Gain (Loss)$22,000115,000$32,00085,000$10,000-30,000124,00096,000-28,000($48,000)$261,000$213,000On Woolford's December 31, 2006 balance sheet the total portfolio at fair value $213,000 should be reported

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