Pie, Inc. owns common stock in multiple companies. The original purchase price of all stock was $ the
fair value of the stock on was $ when the appropriate year end adjusting journal entry was
made. The fair value on is $ and the Fair Value adjustment account has a debit balance of
$ What is the adjusting journal entry needed on to adjust the investments to fair value?
DR Fair Value Adjustment $; CR Unrealized Holding GainLossIncome $
DR Equity Investment $; CR Unrealized Holding GainLossIncome $
DR Unrealized Holding GainLossIncome $; CR Fair Value Adjustment $
DR Fair Value Adjustment $; CR Unrealized Holding GainLossIncome $
