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Wildhorse Company purchased 1000 common shares of Bonita Company on August 1 for $11 per share. At December 31, Wildhorse's year end, Bonita's shares
Wildhorse Company purchased 1000 common shares of Bonita Company on August 1 for $11 per share. At December 31, Wildhorse's year end, Bonita's shares are selling for $18.50 and Bonita reported net income of $155000. Assuming Wildhorse accounts for the investment using FVTPL, the adjustment to the investment account at year end would be O debit to Investment at FVTPL-ABC Company for $11000. O credit to Investment at FVTPL-ABC Company for $18500 Odebit to Investment at FVTPL-ABC Company for $7500. credit to Investment at FVTPL ABC Company for $7000.
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