Vert Company purchased Dextrin common stock for $150,000. At December 31, Year 2, the Fair...
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Accounting
Vert Company purchased Dextrin common stock for $150,000. At December 31, Year 2, the Fair value adjustment account had a debit balance of $10,000. On December 31, Year 3, the fair value of that investment was $154,000. Which of the following will be included in the related journal entry dated December 31, Year 3?
Multiple Choice
Debit to Fair value adjustment for $4,000
Credit to Fair value adjustment for $6,000
Debit to Fair value adjustment for $14,000
Credit to Fair value adjustment for $16,000
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