E10-15B: Investments.
Kinsey Scales invested $164,000 of its extra cash in securities. Under each of the following independent scenarios (a) calculate the amount at which the investments would be valued for the year-end balance sheet, and (b) indicate how these scenarios should be reported on the other financial statements if at all.
1. Al1 the securities were debt securities, with a maturity date in 2 years. Kinsey will hold the securities until they mature. The market value of the securities at year-end was $158,000.
2. Kinsey purchased the securities for trading, hoping to make a quick profit. At year-end the market value of the securities was $162,000.
3. Kinsey is uncertain about how long it will hold the securities. At year-end the market value of the securities is $167,000
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