Question
3: an unsold investment has been revalued at $5,500,000. it was originally purchased for $5,000,000. this is the first time since its purchase it is
3: an unsold investment has been revalued at $5,500,000. it was originally purchased for $5,000,000. this is the first time since its purchase it is being revalued. what would be the appropriate journal entry?
Dr. Investment $500,000/ Cr. Realized Gain/Loss $500,000
Dr. Unrealized Gain/Loss $500,000/ Cr. Investment $500,000
Dr. Investment $500.000/Cr. Unrealized Gain/Loss $500,000
Dr. Realized Gain/Loss $500,000/ Cr. Investment $500,000
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Comparative International Accounting
Authors: Christopher Nobes, R. H. Parker
7th Edition
0273655833, 9780273655831
