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    Klugman Company: Balance Sheets

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    On its December 31, 2007 balance sheet, Klugman Company appropriately reported a $10,000 debit balance in its Securities Fair Value Adjustment (Available-for-Sale) account. There was no change during 2008 in the composition of Klugman's portfolio of marketable equity securities held as available-for-sale securities. The following information pertains to that portfolio:

    Security Cost Fair Value at 12/31/08
    X $125,000 $160,000
    Y 100,000 95,000
    Z 175,000 125,000
    _________ _________
    $400,000 $380,000

    The amount of unrealized loss to appear as a component of comprehensive income for the year ending December 31, 2008 is ___

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    https://brainmass.com/business/accounting/klugman-company-balance-sheets-156031

    Solution Summary

    This solution finds the unrealized loss to appear as a component of the comprehensive income for year of 2008.

    $2.19

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