Wright Company has available-for-sale debt and equity securities that on December 31, 2017, had a cost of $110,000 and a market value of $108,000. The market value rose to $123,000 by December 31, 2018. What accounting action is required on December 31, 2018?

a). Allowance for Change in Fair Value of Investments should be credited for $15,000.
b). Unrealized Holding Gain/Loss-Available-for-Sale Securities should be debited for $13,000.
c). Allowance for Change in Fair Value of Investments should be debited for $15,000.
d). Unrealized Holding Gain/Loss-Available-for-Sale Securities should be credited for $13,000.

Answer rating: 100% (QA)

c Explanation An accounting action is required on December 31 2018 for the Wrig... View the full answer