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ABC Invested $19,000 in Shares of DEF During Year 1,classifying

Question 63

Multiple Choice

ABC invested $19,000 in shares of DEF during Year 1,classifying the investment as available-for-sale.The fair value of this investment was $17,500 and $22,000 at the end of Year 1 and Year 2,respectively.Which of the following is the correct journal entry to adjust the trading securities to fair value at the end of Year 2?


A) ABC invested $19,000 in shares of DEF during Year 1,classifying the investment as available-for-sale.The fair value of this investment was $17,500 and $22,000 at the end of Year 1 and Year 2,respectively.Which of the following is the correct journal entry to adjust the trading securities to fair value at the end of Year 2? A) B) C) D)
B) ABC invested $19,000 in shares of DEF during Year 1,classifying the investment as available-for-sale.The fair value of this investment was $17,500 and $22,000 at the end of Year 1 and Year 2,respectively.Which of the following is the correct journal entry to adjust the trading securities to fair value at the end of Year 2? A) B) C) D)
C) ABC invested $19,000 in shares of DEF during Year 1,classifying the investment as available-for-sale.The fair value of this investment was $17,500 and $22,000 at the end of Year 1 and Year 2,respectively.Which of the following is the correct journal entry to adjust the trading securities to fair value at the end of Year 2? A) B) C) D)
D) ABC invested $19,000 in shares of DEF during Year 1,classifying the investment as available-for-sale.The fair value of this investment was $17,500 and $22,000 at the end of Year 1 and Year 2,respectively.Which of the following is the correct journal entry to adjust the trading securities to fair value at the end of Year 2? A) B) C) D)

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