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wifty Corporation's portfolio of stock holdings of less than 20% at the end of the year is as follows: Investment Cost Market Value Common Stock
wifty Corporation's portfolio of stock holdings of less than 20% at the end of the year is as follows:
Investment | Cost | Market Value |
---|---|---|
Common Stock A | $15100 | $17800 |
Common Stock B | 12900 | 6700 |
| $28000 | $24000 |
The year-end adjusting entry to reflect a decrease in the value of stock trading securities includes a
debit to Fair Value AdjustmentStock.
credit to Stock Investments.
credit to Unrealized Gain or LossIncome.
credit to Fair Value AdjustmentStock.
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