At December 31, 2017, Morgan Corp

question 66

Multiple Choice

At December 31, 2017, Morgan Corp.'s stock investment portfolio, which is being accounted for by the fair value through net income (FV-NI) model, shows a general ledger balance of $214,500.It is determined that the fair value of the securities is actually $225,400.The entry to adjust the portfolio to fair value will include a

• A)debit to Investment Income or Loss of $10,900.
• B)credit to Cash of $10,900.
• C)debit to FV-NI Investments of $10,900.
• D)credit to FV-NI Investments of $10,900.

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