高頓網(wǎng)校USCPA責(zé)任小編在此為各位考生準(zhǔn)備以下有關(guān)“有價證券”的模擬題，你知道正確答案嗎？
　　On July 2, Year 1, Wynn, Inc., purchased as an available-for-sale security a $1,000,000 face value Kean Co. 8% bond for $910,000 plus accrued interest to yield 10%. The bonds mature on January 1, Year 7, and pay interest annually on January 1. On December 31, Year 1, the bonds had a market value of $945,000. On February 13, Year 2, Wynn sold the bonds for $920,000. In its December 31, Year 1, balance sheet, what amount should Wynn report for available-for-sale investments in debt securities?
　　a. $910,000
　　b. $920,000
　　c. $950,000
　　d. $945,000
　　Explanation
　　Choice "d" is correct. The security would be recorded at fair value on July 2, Year 1, or $910,000. Accrued interest is a receivable and does not affect cost. The $90,000 discount is not amortized on short-term investments. On December 31, Year 1, the investment would be adjusted to fair value, $945,000. The unrealized holding gain of $35,000 would be reported as a separate component of other comprehensive income.
　　Choice "a" is incorrect. The investment would be recorded at cost on July 2, Year 1 or $910,000. However, the investment would reflect fair value as of December 31, Year 1.
　　Choice "b" is incorrect. $920,000 reflects the fair value of the investment on the date it was sold, not 12/31/Year 1. The investment is short-term.
　　Choice "c" is incorrect. The accrued interest of $40,000 at 12/31/Year 1 would be recorded as interest receivable, not as part of the investment account.
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