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Valet Corporation began operations in 2021. An analysis of Valet's debt securities portfolio acquired in 2021 shows the following totals at December 31, 2021 for trading and available-for-sale debt securities:
Trading Available-for-Sale
Securities Securities
Aggregate cost $180,000 $220,000
Aggregate fair value 160,000 190,000
What amount should Valet report in its 2021 income statement for unrealized holding loss?

Respuesta :

abiolataiwo2015

Answer:

$20,000

Explanation:

Calculation for What amount should Valet report in its 2021 income statement for unrealized holding loss

Using this formula

2021 income statement for unrealized holding loss=Aggregate cost -Aggregate Fair value

Let plug in the formula

2021 income statement for unrealized holding loss=$ 180,000-$ 160,000

2021 income statement for unrealized holding loss=$20,000

Therefore the amount that Valet should report in its 2021 income statement for unrealized holding loss is $20,000

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