Hobson Company bought the securities listed below during 2020. These securities were classified as trading securities. In its December 31, 2020, income statement Hobson reported a net unrealized holding loss of $16,000 on these securities. Pertinent data at the end of June 2021 is as follows: Security Cost Fair Value X $ 381,500 $ 344,000 Y 185,500 162,700 Z 424,000 408,200
Hobson Company bought the securities listed below during 2020. These securities were classified as trading securities. In its December 31, 2020, income statement Hobson reported a net unrealized holding loss of $16,000 on these securities. Pertinent data at the end of June 2021 is as follows: Security Cost Fair Value X $ 381,500 $ 344,000 Y 185,500 162,700 Z 424,000 408,200
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter13: Investments And Long-term Receivables
Section: Chapter Questions
Problem 2MC: During 2021, Anthony Company purchased debt securities as a long-term investment and classified them...
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Hobson Company bought the securities listed below during 2020. These securities were classified as trading securities. In its December 31, 2020, income statement Hobson reported a net unrealized holding loss of $16,000 on these securities. Pertinent data at the end of June 2021 is as follows:
| Security | Cost | Fair Value | ||||
| X | $ | 381,500 | $ | 344,000 | ||
| Y | 185,500 | 162,700 | ||||
| Z | 424,000 | 408,200 | ||||
What amount of unrealized holding loss on these securities should Hobson include in its income statement for the six months ended June 30, 2021?
$76,100.
$16,000.
$0.
$60,100.
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