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On December 31, Ott Co. had investments in trading securities as follows:

 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

Accounting Auditing Banking
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Question added by Deleted user
Date Posted: 2015/02/22
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Sheraz Ahmad
by Sheraz Ahmad , Financial Adviser , Emirates NBD Bank (DSA)

B. $28,000 if that's held for trading 

 

 

 

Ahmed kandil
by Ahmed kandil , Cost Controller , Battour Holding Cpompany

Accept with mr krishna ....

VENKITARAMAN KRISHNA MOORTHY VRINDAVAN
by VENKITARAMAN KRISHNA MOORTHY VRINDAVAN , Project Execution Manager & Accounts Manager , ALI INTERNATIONAL TRADING EST.

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/-

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