Question: 2 3 Path Corp has a December 31 year end. During 2019 and 2020, Path has the following 4 investment transactions: 5 6 30-Jun-19 Path

2 3 Path Corp has a December 31 year end. During 2019 and 2020, Path has the following 4 investment transactions: 5 6 30-Jun-19 Path Corp purchased 1,200 shares of ABC Inc at $13.50 per share. 7 01-Sep-19 ABC Inc paid dividends of $0.75 per share. 8 31-Dec-19 ABC Inc shares had a fair value of $12.00 per share. 01-Jul-20 Path Corp sold all of ABC Inc shares for $16.00 per share. 10 11 Instructions: 12 Part 1: Assume Path Corp uses the fair value through net income (FV-NI) method to account for its 13 14 A) June 30, 2019 15 Date Description Dr Cr 16 17 18 19 20 21 22

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