Barkely Corporation has invested in the stock of two other corporations,Hayes Corporation and Motz Corporation.Barkely does not own a controlling interest or exercise significant influence over either corporation.Barkely's accountant is preparing financial statements and has compiled the following information: What should be the balance in the Allowance to Adjust Long-Term Investments to Market account,based on the above information?
A)$2,000 credit
B)$4,000 debit
C)$4,000 credit
D)$2,000 debit

Question

Barkely Corporation has invested in the stock of two other corporations,Hayes Corporation and Motz Corporation.Barkely does not own a controlling interest or exercise significant influence over either corporation.Barkely's accountant is preparing financial statements and has compiled the following information:  What should be the balance in the Allowance to Adjust Long-Term Investments to Market account,based on the above information?
A)$2,000 credit 
B)$4,000 debit 
C)$4,000 credit 
D)$2,000 debit

Quizplus · Accepted Answer

The Answer of Barkely Corporation has invested in the stock of two other corporations,Hayes Corporation and Motz Corporation.Barkely does not own a controlling interest or exercise significant influence over either corporation.Barkely's accountant is preparing financial statements and has compiled the following information:  What should be the balance in the Allowance to Adjust Long-Term Investments to Market account,based on the above information?
A)$2,000 credit 
B)$4,000 debit 
C)$4,000 credit 
D)$2,000 debit

Barkely Corporation Has Invested in the Stock of Two Other