On its December 31, 2020 balance sheet, Blossom Company appropriately reported a $10,000 debit balance in its Fair Value Adjustment account. There was no change during 2021 in the composition of Blossom’s portfolio of debt investments held as available-for-sale debt securities. The following information pertains to that portfolio: Security cost Fair value at 12/31/21 X $150000 $190000 Y 120000 105000 Z 215000 165000 $485000 $460000 The amount of unrealized loss to appear as a component of comprehensive income for the year ending December 31, 2021 is
On its December 31, 2020 balance sheet, Blossom Company appropriately reported a $10,000 debit balance in its Fair Value Adjustment account. There was no change during 2021 in the composition of Blossom’s portfolio of debt investments held as available-for-sale debt securities. The following information pertains to that portfolio: Security cost Fair value at 12/31/21 X $150000 $190000 Y 120000 105000 Z 215000 165000 $485000 $460000 The amount of unrealized loss to appear as a component of comprehensive income for the year ending December 31, 2021 is
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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On its December 31, 2020 balance sheet, Blossom Company appropriately reported a $10,000 debit balance in its Fair Value Adjustment account. There was no change during 2021 in the composition of Blossom’s portfolio of debt investments held as available-for-sale debt securities. The following information pertains to that portfolio:
Security |
cost |
|
Fair value at 12/31/21 |
|
X |
$150000 |
$190000 |
||
Y |
120000 |
105000 |
||
Z |
215000 |
165000 |
||
|
$485000 |
$460000 |
The amount of unrealized loss to appear as a component of comprehensive income for the year ending December 31, 2021 is
$35000. |
$25000. |
$0. |
$40000. |
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