The Allowance to Adjust Investments to Market Account Has a Current

question 143

Multiple Choice

The Allowance to Adjust Investments to Market account has a current credit balance of $1,150 after adjustment. Available-for-sale investments have a current market value of $20,000. The carrying value of the investments is:

• A) $20,000.
• B) $21,150.
• C) $18,850.
• D) unknown. The carrying value cannot be computed without knowing the cost of the investment.

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