Multiple Choice
A long-term investment in available-for-sale securities was acquired at a cost of $39,000. At year-end, the fair value of the securities is $45,450. The year-end adjusting entry requires a:
A) credit to Investment in Available-for-Sale Securities for $6450.
B) debit to Allowance to Adjust Investment in Available-for-Sale Securities to Market for $6450.
C) credit to Allowance to Adjust Investment in Available-for-Sale Securities to Market for $6450.
D) debit to Unrealized Loss on Investment in Available-for-Sale Securities for $6450.
Correct Answer:
Verified
Correct Answer:
Verified
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