Question
On December 31, 2019, ABC Company's available-for-sale securities have a fair value of $84,000. On December 31, 2020, the same available-for-sale securities have a fair
On December 31, 2019, ABC Company's available-for-sale securities have a fair value of $84,000. On December 31, 2020, the same available-for-sale securities have a fair value of $78,000. The journal entry to report the portfolio at fair market value on December 31, 2020, will include a a.credit to Unrealized Holding GainAvailable-for-Sale Securities for $6,000. b.debit to Unrealized Holding LossAvailable-for-Sale Securities for $6,000. c.credit to Unrealized Holding LossAvailable-for-Sale Securities for $6,000. d.debit to Allowance for Change in Fair Value of Investments for $6,000.
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Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
26th edition
128574361X, 978-1305446052, 1305446054, 978-1285743615
