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Home Q & A Board Other Fields Homework Help Business Accounting
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goji.go goji.go
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Posts: 5977
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9 years ago
A Debt Service Fund accumulates resources to retire debt that is due in a lump sum in the year 2014. The Fund held marketable securities that cost $900,000 when purchased during 2006 and 2007. The securities had fair market values of $875,000 on January 1, 2013, and $930,000 on December 31, 2013. The average fair market value during the year was $895,000. At what amount should the Fund report the securities in its balance sheet on December 31, 2013?
      a.   $875,000
      b.   $895,000
      c.   $900,000
      d.   $930,000
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3 Replies
Diesel
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Answer accepted by topic starter
f_zah1f_zah1
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#1
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9 years ago
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goji.go Author
wrote...
#2
9 years ago
Thanks so much f_zah1.

You were correct Smiling Face with Open Mouth
Diesel
wrote...
#3
9 years ago
You're very welcome!
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