Why is \"unrealized holding gain - NI\" credited? Shouldn\'t \"Other comprehensi

Question

Why is "unrealized holding gain - NI" credited? Shouldn't "Other comprehensive income - Unrealized holding gains and losses" be credited since its available for sale securities?

In its 2018 annual report to shareholders, Kirby Inc. included the following disclosure regarding its available for sale investments in securities December 31 2018 2017 2016 In thousands Accumulated other comprehensive income Unrealized holding gains (losses) on securities: Balance at beginning of year Unrealized holding gains (losses) for the year Unrealized holding losses recognized in NI. -(7,543) (6,872) 1,519 (3,574) (681) - 11,117 (7,553) Balance at end of year 1,519 Required Prepare the journal entry (in thousands) that Kirby made at the end of 2018 to record unrealized holding gains arising during the year. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 0 Transaction General Journal Debit Credit Fair value adjustment 1,519 Unrealized holding gain-NI 1,519

Explanation / Answer

Unrealized holding gain-NI is credited may be because in 2017 the investment was wrote off or sold, as we can see the balance at the end of 2017 is $0 . But than in 2018 again the investment must have a positive value so this would affect Income statement hence credit to it, If any doubt please comment

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