Question
Anthers Inc. bought the following portfolio of trading securities near the end of 2021. Security Cost...
Anthers Inc. bought the following portfolio of trading
securities near the end of 2021.
|
Security |
Cost |
Fair value 12/31/2021 |
||||
|
A |
$ |
80,000 |
$ |
84,000 |
||
|
B |
60,000 |
54,000 |
||||
|
C |
22,000 |
22,000 |
||||
What amount will be reported in the balance sheet for this
portfolio at December 31, 2021, and how will it be
classified?
|
Amount |
Classification |
|||
|
a. |
$ |
162,000 |
Noncurrent Asset |
|
|
b. |
$ |
162,000 |
Current Asset |
|
|
c. |
$ |
160,000 |
Noncurrent Asset |
|
|
d. |
$ |
160,000 |
Current Asset |
|
Multiple Choice
Option a.
Option c.
Option b.
Option d.
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