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(5 points) At the beginning of 2022 , Peony, Inc. purchased 60,000 shares of TCV's common stock for $33/ share and added them to its
(5 points) At the beginning of 2022 , Peony, Inc. purchased 60,000 shares of TCV's common stock for $33/ share and added them to its Expansion Fund, an availablefor-sale portfolio. At the end of 2022, the stock had decreased in value to $23 /share. At the end of 2023 , the value had risen to $38 /share. What should Peony, Inc. report as it's ending Fair Value Adjustment - Expansion Fund balance at the end of 2023? (A 34) a debit of $2,280,000 a debit of $300,000 a credit of $60,000 a credit of $600,000
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