The Allowance to Adjust Investment in Available-for-Sale Securities to Market account has a current credit balance of $842. Long-term available-for-sale investments with a cost of $16,000 have a current fair value of $18,400
The adjusting entry will require a:
A) credit to Allowance to Adjust Investment in Available-for-Sale Securities to Market for $1558.
B) credit to Allowance to Adjust Investment in Available-for-Sale Securities to Market for $3242.
C) debit to Allowance to Adjust Investment in Available-for-Sale Securities to Market for $1558.
D) debit to Allowance to Adjust Investment in Available-for-Sale Securities to Market for $3242.
D
You might also like to view...
Instant messaging is less susceptible to computer viruses and other security problems than other forms of social media
Indicate whether the statement is true or false.
The repurchase of common stock results in a type of reverse dilution, since the earnings per share and the market price of stock are increased by reducing the number of shares outstanding
Indicate whether the statement is true or false