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Tomlin Enterprises Has a Credit Balance of $80,000 in Its

Question 54

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Tomlin Enterprises has a credit balance of $80,000 in its Allowance to Adjust Long-Term Investments to Market account before adjustment.Its investment portfolio has a total cost of $500,000 and a market value of $450,000.The year-end adjustment entry that would be recorded in the books of Tomlin Enterprises is:


A) Tomlin Enterprises has a credit balance of $80,000 in its Allowance to Adjust Long-Term Investments to Market account before adjustment.Its investment portfolio has a total cost of $500,000 and a market value of $450,000.The year-end adjustment entry that would be recorded in the books of Tomlin Enterprises is: A) B) C) D)
B) Tomlin Enterprises has a credit balance of $80,000 in its Allowance to Adjust Long-Term Investments to Market account before adjustment.Its investment portfolio has a total cost of $500,000 and a market value of $450,000.The year-end adjustment entry that would be recorded in the books of Tomlin Enterprises is: A) B) C) D)
C) Tomlin Enterprises has a credit balance of $80,000 in its Allowance to Adjust Long-Term Investments to Market account before adjustment.Its investment portfolio has a total cost of $500,000 and a market value of $450,000.The year-end adjustment entry that would be recorded in the books of Tomlin Enterprises is: A) B) C) D)
D) Tomlin Enterprises has a credit balance of $80,000 in its Allowance to Adjust Long-Term Investments to Market account before adjustment.Its investment portfolio has a total cost of $500,000 and a market value of $450,000.The year-end adjustment entry that would be recorded in the books of Tomlin Enterprises is: A) B) C) D)

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