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21) ABC Company bought 2,000 shares of common stock (5% interest) of JKL Company for...

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Accounting

21) ABC Company bought 2,000 shares of common stock (5% interest) of JKL Company for $10 a share on January 1, 2020. On December 31, 2020 the JKL stock had a market value of $9 a share. On December 31, 2021, market value of the JKL stock was $15 a share. What amount should ABC Company record as an adjustment to the Fair Value Adjustment account on December 31, 2021?

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