Continued c balance sheet available for sale

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PROBLEM 17-12 (Continued) (c) Balance Sheet Available-for-Sale Securities, at fair value .................... $88,000 (Reported as current or noncurrent based on intent) Unrealized Holding Gain on Securities .......................... $ 8,000 ($88,000 – $80,000) (reported as a separate component of stockholders’ equity as an addition and identified as accumulated other comprehensive gain) Income Statement Other Expenses and Losses Loss on Sale of Securities ($8,100 + $2,700) ........... $10,800 The entry made to record the sale of Lindsay Jones’ stock was: Cash .......................................................................... 39,900 Loss on Sale of Securities .................................... 8,100 Available-for-Sale Securities
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($15,000 + $33,000) .................................... 48,000 PROBLEM 17-12 (Continued) (d) (1) Statement of Comprehensive Income Reports unrealized holding loss of $4,000 as part of compre-hensive income. (2) Statement of Comprehensive Income Total holding loss arising during period ....... $39,800* Less: Reclassification adjustment for loss included in net income ............................ 1,800 Net unrealized loss ............................................... $38,000 *$42,000 – $4,000 + $1,800
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