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
Q71: Seider Company receives a stock dividend of
Q72: An investor receives a cash dividend from
Q73: On January 1, 2017, Jude Corporation purchases
Q74: The journal entry to record the sale
Q75: The Allowance to Adjust Investment in Available-for-Sale
Q77: How does the declaration and receipt of
Q78: A company has a long-term Investment in
Q79: Murphy Enterprises holds the following available-for-sale securities
Q80: The Allowance to Adjust Investment in Available-for-Sale
Q81: An investor owning between 20% and 50%
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents