Stone does not use the fair value option to account for available-for-sale securities. Information regarding Stone Co.'s portfolio of available-for-sale securities is as follows: 170,000 Aggregate cost as of 12/31/Y2 4,000 Unrealized gains as of 12/31/Y2 26,000 Unrealized losses as of 12/31/Y2 Net realized gains during year 2 30,000 At December 31, year 1, Stone reported an unrealized loss of 1,500 in other comprehensive income to reduce these securities to fair value. Under the accumulated other comprehensive income in stockholders' equity section of its December 31, year 2 balance sheet, what amount should Stone report?

Stone does not use the fair value option to account for available-for-sale securities. Information regarding Stone Co.'s portfolio of available-for-sale securities is as follows: 170,000 Aggregate cost as of 12/31/Y2 4,000 Unrealized gains as of 12/31/Y2 26,000 Unrealized losses as of 12/31/Y2 Net realized gains during year 2 30,000 At December 31, year 1, Stone reported an unrealized loss of 1,500 in other comprehensive income to reduce these securities to fair value. Under the accumulated other comprehensive income in stockholders' equity section of its December 31, year 2 balance sheet, what amount should Stone report?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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