Question
A long-term investment in available-for-sale securities was acquired at a cost of $39,000. At year-end, the fair value of the securities is $45,450. The year-end
A long-term investment in available-for-sale securities was acquired at a cost of $39,000. At year-end, the fair value of the securities is $45,450. The year-end adjusting entry requires a:
Group of answer choices
credit to Allowance to Adjust Investment in Available-for-Sale Securities to Market for $6450.
credit to Investment in Available-for-Sale Securities for $6450.
debit to Unrealized Loss on Investment in Available-for-Sale Securities for $6450.
debit to Allowance to Adjust Investment in Available-for-Sale Securities to Market for $6450.
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Fundamental Accounting Principles
Authors: Larson Kermit, Tilly Jensen
Volume I, 14th Canadian Edition
978-0071051507
