Cold Cat Inc

question 178

Essay

Cold Cat Inc., a snowmobile manufacturer, reported the following in its 20X5 annual report to shareholders:

Trading securities consist of $54,608,000 and $41,707,000 invested in various corporate bonds at March 31, 20X5 and 20X4, respectively, while the remainder of trading securities and available-for-sale securities consist primarily of A-rated or higher municipal bond investments. The amortized cost and fair value of debt securities classified as available-for-sale was $3,105,000 and $3,196,000, at March 31, 20X5. The unrealized holding gain on available-for-sale debt securities is reported, net of tax, as a separate component of shareholders' equity.

Cold Cat Inc.
CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY
Years Ended March 31,

Accumulated Other Comprehensive Income changed by the following amounts:

NOTE B - SHORT-TERM INVESTMENTS
Short-term investments consist primarily of a diversified portfolio of municipal and corporate bonds and are classified as follows at March 31:


In its 20X4 annual report, Cold Cat disclosed, "The contractual maturities of available-for-sale debt securities at March 31, 20X4, are $3,573,000 within one year and $3,340,000 from one year through five years."
-What gain or loss would be realized if the available for sale securities on Cold Cat's 3/31/X5 balance sheet were sold immediately for their fair value? Prepare any reclassification entry and an entry that would record the sale (ignore taxes).

Appreciate the importance of diagnostic tests in evaluating respiratory function and diagnosing conditions.

Understand the concept and importance of internal control systems within organizations.

Identify the limitations and challenges associated with internal controls.

Explain the process and importance of bank reconciliations.

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Definitions:

Trazodone

A medication primarily used to treat depression and sometimes used to treat anxiety, insomnia, and other conditions.

Hypertensive Crisis

A severe and dangerous increase in blood pressure that can lead to stroke, heart attack, or other critical conditions if not treated promptly.

MAO

An enzyme in the body responsible for breaking down neurotransmitters, such as dopamine and serotonin, and involved in the action of certain antidepressants.

Hypoglycemia

A condition characterized by abnormally low blood glucose (sugar) levels.