Question
During Year 1, Anthony Company purchased debt securities and holds the securities as available-for-sale. Pertinent data are as follows: Security Cost $20,000 TE 40,000
During Year 1, Anthony Company purchased debt securities and holds the securities as available-for-sale. Pertinent data are as follows: Security Cost $20,000 TE 40,000 90,000 $150,000 A B Fair value at 12/31/Y1 C $17,000 30,000 92,000 $139,000 Anthony appropriately carries these securities at fair value, and the decline in value of Security B is attributed to credit loss. The change in value of securities A and C is considered to be due to factors other than credit loss. The amount of loss on these securities that will appear on Anthony's balance sheet as a component of "Accumulated other comprehensive income" at 12/31/Y1 should be.
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Intermediate Accounting Reporting and Analysis
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
3rd edition
9781337909402, 978-1337788281
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