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On its December 31, 2020 balance sheet, Cullumber Company appropriately reported a $10,000 debit balance in its Fair Value Adjustment account. There was no change
On its December 31, 2020 balance sheet, Cullumber Company appropriately reported a $10,000 debit balance in its Fair Value Adjustment account. There was no change during 2021 in the composition of Cullumbers 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 | $132000 | $163000 | |||
| Y | 102000 | 91500 | |||
| Z | 179000 | 129000 | |||
| $413000 | $383500 | ||||
The amount of unrealized loss to appear as a component of comprehensive income for the year ending December 31, 2021 is
| A | $31000 |
| B | $20500 |
| C | $0 |
| D | $39500 |
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