On its December 31, 2019 balance sheet, Kent's Company appropriately reported a $20,000 credit balance in its Fair Value Adjustment account. There was no change during 2020 in the composition of Kent's portfolio of debt investments held as available-for-sale debt securities. The following information pertains to that portfolio: Security Fair value at 12/31/20 $160,000 90,000 125.000 $375.000 Cost $130,000 100,000 175.000 $405.000 The amount of unrealized loss to appear as a component of comprehensive income for the year ending December 31, 2020 is Ⓒa. 50. X Y z b. $50,000. Oc$10,000. d$30,000.
On its December 31, 2019 balance sheet, Kent's Company appropriately reported a $20,000 credit balance in its Fair Value Adjustment account. There was no change during 2020 in the composition of Kent's portfolio of debt investments held as available-for-sale debt securities. The following information pertains to that portfolio: Security Fair value at 12/31/20 $160,000 90,000 125.000 $375.000 Cost $130,000 100,000 175.000 $405.000 The amount of unrealized loss to appear as a component of comprehensive income for the year ending December 31, 2020 is Ⓒa. 50. X Y z b. $50,000. Oc$10,000. d$30,000.
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:On its December 31, 2019 balance sheet, Kent's Company appropriately reported a $20,000 credit balance in its Fair Value Adjustment account. There was no change during 2020 in the
composition of Kent's portfolio of debt investments held as available-for-sale debt securities. The following information pertains to that portfolio:
Security
Fair value at 12/31/20
$160,000
90,000
125.000
$375.000
Cost
$130,000
100,000
175.000
$405.000
The amount of unrealized loss to appear as a component of comprehensive income for the year ending December 31, 2020 is
Y
Z
a. So.
b. $50,000.
C$10,000.
d. $30,000.
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