In footnotes to its 2016 annual report, Bancfirst Corp. reported that held-to-maturity debt securities with an amortized cost of $4,365 thousand had an estimated fair value of $4,403 thousand.
a. What amount does Bancfirst report on its 2016 balance sheet for these held-to-maturity securities?
b. If these debt securities had instead been classified as available-for-sale securities, how would Bancfirst's pretax income have been affected?

Question

Quizplus · Accepted Answer

The Answer of In footnotes to its 2016 annual report, Bancfirst Corp. reported that held-to-maturity debt securities with an amortized cost of $4,365 thousand had an estimated fair value of $4,403 thousand.
a. What amount does Bancfirst report on its 2016 balance sheet for these held-to-maturity securities?
b. If these debt securities had instead been classified as available-for-sale securities, how would Bancfirst's pretax income have been affected?

In Footnotes to Its 2016 Annual Report, Bancfirst Corp