Following is a portion of the investments footnote from the 2016 10-K report of Bancfirst Corporation (in thousands), related to held-to-maturity securities.
The following table summarizes the amortized cost and estimated market values of securities held for investment:
Required:
a. What amount does Bancfirst report on its balance sheet at December 31, 2016, for these held-to-maturity securities?
b. Calculate the unrealized gains or losses on these securities at December 31, 2016. How do these unrealized gains or losses affect the 2016 balance sheet and the 2016 income statement?
c. If these held-to-maturity securities had instead been classified as available-for sale, how would Bancfirst's 2016 balance sheet and income statement been different?

Question

Following is a portion of the investments footnote from the 2016 10-K report of Bancfirst Corporation (in thousands), related to held-to-maturity securities.
The following table summarizes the amortized cost and estimated market values of securities held for investment:
  Required: 
a. What amount does Bancfirst report on its balance sheet at December 31, 2016, for these held-to-maturity securities?
b. Calculate the unrealized gains or losses on these securities at December 31, 2016. How do these unrealized gains or losses affect the 2016 balance sheet and the 2016 income statement?
c. If these held-to-maturity securities had instead been classified as available-for sale, how would Bancfirst's 2016 balance sheet and income statement been different?

Quizplus · Accepted Answer

The Answer of Following is a portion of the investments footnote from the 2016 10-K report of Bancfirst Corporation (in thousands), related to held-to-maturity securities.
The following table summarizes the amortized cost and estimated market values of securities held for investment:
  Required: 
a. What amount does Bancfirst report on its balance sheet at December 31, 2016, for these held-to-maturity securities?
b. Calculate the unrealized gains or losses on these securities at December 31, 2016. How do these unrealized gains or losses affect the 2016 balance sheet and the 2016 income statement?
c. If these held-to-maturity securities had instead been classified as available-for sale, how would Bancfirst's 2016 balance sheet and income statement been different?

Following Is a Portion of the Investments Footnote from the 2016