Chapin Company purchased investments in 2017 at a cost of $200,000and recorded them as trading securities. Their

Fantastic news! We've Found the answer you've been seeking!

Question:

Chapin Company purchased investments in 2017 at a cost of $200,000and recorded them as trading securities. Their market values totaled $250,000 and $230,000 on December 31, 2017, and December 31, 2018, respectively. The entry required on December 31, 2018, would include a

A) debit to Unrealized Holding Gain/Loss-Trading Securities of $30,000

B) credit to Unrealized Holding Gain/Loss-Trading Securities of $20,000

C) credit to Unrealized Holding Gain/Loss-Trading Securities of $30,000

D) debit to Unrealized Holding Gain/Loss-Trading Securities of $20,000

\r\n