Reference no: EM13153768
At January 1, 2011, a company had a net valuation allowance account credit balance for investments in securities available-for-sale of $20,000. At December 31, 2011, the total cost of the relevant portfolio was $300,000, and total market value was $275,000. The entry required on December 31, 2011, would reflect a
A) $5,000 decrease in net income.
B) $25,000 decrease in net income.
C) credit of $5,000 to the valuation allowance account.
D) debit of $25,000 to the unrealized loss account.
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