On its December 31, 2020 balance sheet, Calhoun Company appropriately reported a 'debit balance in its Fair Value Adjustment account. There was no change during 2021 in the composition of Calhoun's portfolio of debt investments held as available-for-sale debt securities, The following information pertains to that portfollo Security Y Z Cost $130,000 100,000 175,000 $405.000 Fair value at 12/31/21 $160,000 90,000 125,000 $375,000 The amount of unrealized loss to appear as a component of comprehensive income for the year ending December 31, 2021 is a. $40,000. b. $30,000. c. $20,000. d. $0.
On its December 31, 2020 balance sheet, Calhoun Company appropriately reported a 'debit balance in its Fair Value Adjustment account. There was no change during 2021 in the composition of Calhoun's portfolio of debt investments held as available-for-sale debt securities, The following information pertains to that portfollo Security Y Z Cost $130,000 100,000 175,000 $405.000 Fair value at 12/31/21 $160,000 90,000 125,000 $375,000 The amount of unrealized loss to appear as a component of comprehensive income for the year ending December 31, 2021 is a. $40,000. b. $30,000. c. $20,000. d. $0.
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
ChapterA2: Investments
Section: Chapter Questions
Problem 18E: Trading Securities Pear Investments began operations in 2020 and invests in securities classified as...
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