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If a company purchases its only long-term investments in

Question: 1. How are trading securities reported (valued) on the balance sheet?

2. If a company purchases its only long-term investments in available-for-sale debt securities this period and their fair value is below cost at the balance sheet date, what entry is required to recognize this unrealized loss?

3. Under what conditions should investments be classified as current assets? As long-term assets?

4. Identify the three classes of noninfluential and two classes of influential investments in securities.

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Accounting Basics: If a company purchases its only long-term investments in

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