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.
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 7RE: Refer to the information in RE13-5. Assume that on December 31, 2019, the investment in Smith...
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![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.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6c7362b4-811e-48b1-a295-094a04c8c298%2Fdb0945fc-5330-49c3-b51b-485c4c9e835f%2F0rs9crf9_processed.png&w=3840&q=75)
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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