An available-for-sale bond investment amortization schedule contained the follow

Question

An available-for-sale bond investment amortization schedule contained the following information for 12/312012: Amortized Cost: $492,000 Fair Value: $499,000 The debit to the adjusting entry to record the bonds at fair value at 12/31/2012 if the Fair Value Adjustment account already has a $2000 debit balance is

Securities Fair Value Adjustment (Avaialble-for Sale)   $5,000

       Securities Fair Value Adjustment (Avaialble-for Sale)   $9,000

       Unrealized Holding Gain or Loss – Equity $7,000

       Unrealized Holding Gain or Loss – Equity $5,000

Explanation / Answer

answer) Cost Fair Vale Unrealized gain/loss $                                          492,000.00 $                           499,000.00 $                    7,000.00 Journal Entry Particular Amount(DR) Amount(CR) Unrealized Holding Gain or Loss $                                5,000.00     Market Adjustment $                    5,000.00

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