Prepare Tiker Company's journal entries to record the following transactions and the adjusting entry to record the fair value of the stock investments portfolio. This is the first and only time the company purchased such securities
May Purchases shares of Higo stock as a shortterm investment at a cost of $ per share. Tiker has insignificant influence over Higo.
June Sells shares of its investment in Higo stock $ cost at $ per share.
December The closing market price fair value of the Higo stock is $ per share.
Journal entry worksheet
Purchases shares of Higo stock as a shortterm investment at a cost of $ per share. Tiker has insignificant influence over Higo.
Note: Enter debits before credits.
tableDateGeneral Journal,Debit,CreditMay
