Multiple Choice
A long-term investment in available-for-sale securities was acquired at a cost of $40,000.At year-end,the fair value of the securities is $42,250.The year-end adjusting entry requires a:
A) credit Investment in Available-for-Sale Securities for $2,250.
B) debit Allowance to Adjust Investment in Available-for-Sale Securities to Market for $2,250.
C) credit Allowance to Adjust Investment in Available-for-Sale Securities to Market for $2,250.
D) debit Unrealized Loss on Investment in Available-for-Sale Securities for $2,250.
Correct Answer:
Verified
Correct Answer:
Verified
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