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What is the amount of the net gain related to afs securities

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Reference no: EM133185811

Question - On January 1, 2016, a company's balance sheet reports its investments in debt securities as follows:

Assets

Investment in trading securities $175,000

Investment in AFS securities 95,000

Investment in HTM securities 213,961

Equity

Accumulated other comprehensive income:

Unrealized gains (losses) on AFS securities $ 5,500

Additional information:

a. The HTM securities are $210,000 face value securities purchased on January 1, 2014, at a yield of 4%. The securities have a 4-year total life and pay interest annually on December 31, at a coupon rate of 5%.

b. The trading securities on hand on January 1 were sold in 2016 for $210,000.

c. More trading securities were purchased for $115,000. They are still on hand at December 31, 2016, and have a fair value of $130,000.

d. AFS securities, originally purchased for $25,000 with a carrying value of $24,000 as of January 1, 2016, were sold for $30,000.

e. AFS securities on hand at December 31, 2016, have a fair value of $79,000

Required - What is the amount of the net gain related to AFS securities reported on the 2016 Statement of Comprehensive Income?

Reference no: EM133185811

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