At December 31, 2018, Atlanta Company has an equity portfolio valued at $160,000. Its cost...
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Accounting
At December 31, 2018, Atlanta Company has an equity portfolio valued at $160,000. Its cost was $132,000. If the Securities Fair Value Adjustment has a debit balance of $8,000, the journal entry of ____________________ is required at December 31, 2018.
a. Dr. Fair Value Adjustment 20,000 Cr. Unrealized Holding Gain or Loss-Income 20,000
b. Dr. Fair Value Adjustment 28,000 Cr. Unrealized Holding Gain or Loss-Income 28,000
c. Dr. Unrealized Holding Gain or Loss-Income 28,000 Cr. Fair Value Adjustment 28,000
d. Dr. Unrealized Holding Gain or Loss-Income 20,000 Cr. Fair Value Adjustment 20,000
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