The balance in the Unrealized Loss-Equity account will

Name: The balance in the Unrealized Loss-Equity account will
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The balance in the Unrealized Loss-Equity account represents a decrease in the value of an asset that has not yet been sold. As such, it is deducted from the equity section of the statement of financial position to reflect the lower value of the asset. It is not considered a contra asset and does not appear on the income statement until the asset is sold and a realized loss is recorded.

The Balance in the Unrealized Loss-Equity Account Will