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On its December 31, 2012 balance sheet, Calhoun Company appropriately reported a $10,000 debit balance in its Fair Value Adjustment (available-for-sale) account. There was no change during 2013 in the composition of Calhoun's portfolio of equity investments held as available-for-sale securities. The following information pertains to that portfolio:

Security Cost Fair Value at 12/31/13
X $125,000 $160,000
Y $100,000 $85,000
Z $175,000 $125,000
$400,000 $370,000

The amount of unrealized loss to appear as a component of comprehensive income for the year ending December 31, 2013 is:

a) $40,000.

b) $30,000.

c) $10,000.

d) $0.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M946156

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