$(12$HV$)$

OS C$-12($Algo$)$ Adjusting stock investments to fair value LO P$4$

Prepare Tiker Company$/$s journal entries to record the foliowing transactions and the adjusting entry to record the fair walue of the stock investments portfolio. This is the frst and only time the company purchased such securities$.$

May $9$ Murchaves $370$ shares of kigo steck as a shart$-$tern investeent at a cost of $$42$ per share. Tiker has Insignificant influetce over Higo. December $31$ The closing market price $($fair valae$)$ of the Higo stock is sop per share.

Journal entry worksheet

$1$

$2$

$3$

Rurchases $370$ shares of Rigo stock as a short$-$term investment as a cost of $342$ per share. Tieer has insignificat imfuence over Higo.

Nolle: Bieter getils lifiore armith.

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