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Skywalker Limited purchased an equity investment in Jedi Jewelers during 2018 for $129,000. Skywalker has significant influence over Jedi. Skywalker elected the fair value option
Skywalker Limited purchased an equity investment in Jedi Jewelers during 2018 for $129,000. Skywalker has significant influence over Jedi. Skywalker elected the fair value option for accounting for this investment At year end 2018, 2019, and 2020, this investment had a fair value of $120,000, $130,000, and $137,000, respectively. How will this investment be reported on the Balance Sheet at year-end, 2020? A. Investment in Jedi - $129.000, plus Fair Value Adjustment - Fair Value Option - $8,000 B. Investment in Jedi - $130,000, plus Fair Value Adjustment - Fair Value Option $8,000 C. Investment in Jedi - $137,000 D. Investment in Jedi - $129,000
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