Novi purchased ABC bonds on 1/1/22 Data regarding these available-for-sale securities follow Cost MV December 31, 2022 $150,000 $130,000 December 31, 2023 150,000 161,000 December 31, 2024 150,000 155,000 On 1/1/25, Novi sold $40,000 (cost) of the securities for $40,100. Market Value of the remaining securities at 12/31/25 was $10800. The balance of the Fair Value Adjustment account included on the 12/31/25 balance sheet is:
Novi purchased ABC bonds on 1/1/22 Data regarding these available-for-sale securities follow Cost MV December 31, 2022 $150,000 $130,000 December 31, 2023 150,000 161,000 December 31, 2024 150,000 155,000 On 1/1/25, Novi sold $40,000 (cost) of the securities for $40,100. Market Value of the remaining securities at 12/31/25 was $10800. The balance of the Fair Value Adjustment account included on the 12/31/25 balance sheet is:
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter13: Investments And Long-term Receivables
Section: Chapter Questions
Problem 1MC
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Please give correct debit or credit balance . Do not copey from other site otherwise give downvote .
![Novi purchased ABC bonds on 1/1/22. Data regarding these available-for-sale securities follow.
Cost
MV
December 31, 2022
$150,000
$130,000
December 31, 2023
150,000
161,000
December 31, 2024
150,000
155,000
On 1/1/25, Novi sold $40,000 (cost) of the securities for $40,100. Market Value of the remaining securities at 12/31/25 was $108.00.
The balance of the Fair Value Adjustment account included on the 12/31/25 balance sheet is:](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe4f799a7-9bf5-4343-828e-d8505471c226%2F50286b53-2345-4ff1-97ad-50e90fec34e8%2Fcnr2w3j_processed.png&w=3840&q=75)
Transcribed Image Text:Novi purchased ABC bonds on 1/1/22. Data regarding these available-for-sale securities follow.
Cost
MV
December 31, 2022
$150,000
$130,000
December 31, 2023
150,000
161,000
December 31, 2024
150,000
155,000
On 1/1/25, Novi sold $40,000 (cost) of the securities for $40,100. Market Value of the remaining securities at 12/31/25 was $108.00.
The balance of the Fair Value Adjustment account included on the 12/31/25 balance sheet is:
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