On December 31, 2010, Available-For-Sale Securities with an Original Cost

question 75

Multiple Choice

On December 31, 2010, available-for-sale securities with an original cost of $15,000 have a carrying value on the balance sheet equal to their market value of $20,000. On January 5, 2011, those securities are sold for $18,000. Which of the following would be part of the appropriate entry to record the sale of the available-for-sale securities?

• A) A credit to Realized Gain on Available-for-Sale Securities for $5,000.
• B) A debit to Unrealized Price Increase on Available-for Sale Securities for $3,000.
• C) A debit to Unrealized Price Increase on Available-for Sale Securities for $5,000.
• D) A credit to Available-for Sale Securities for $15,000.

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