Question
Martinez Inc. owns bonds that are accounted for under the fair value through net income model. On December 31, 2023, the bonds have a carrying
Martinez Inc. owns bonds that are accounted for under the fair value through net income model. On December 31, 2023, the bonds have a carrying value of $124200. The fair value at that date is $123300. The entry to record the year-end adjustment is
O Unrealized Gain or Loss OCI
FV-NI Investments
900
900
Investment Income or Loss
FV-NI Investments
900
900
O FV-NI Investments
Investment Income or Loss
900
900
O No adjustment is required.
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Algorithm Audit Why What And How
Authors: Biagio Aragona
1st Edition
0367530929, 978-0367530921
