Coach Company has a stock portfolio valued at $3,500. Its cost was $2,700. If the Fair Value Adjustment account has a credit balance of $140, prepare the journal entry at year-end.
A. Debit fair value adjustment for $940
Don't use plagiarized sources. Get Your Custom Essay on
Coach Company has a stock portfolio valued at $3,500. Its cost was $2,700.
Just from $13/Page
B. Debit fair value adjustment for $660
C. Credit fair value adjustment for $940
D. Credit fair value adjustment for $660
