Question: On May 1 7 , 2 0 2 7 , Murphy Company purchased 1 5 , 0 0 0 shares ( representing 1 4 %
On May Murphy Company purchased shares representing of ZZ Inc. stock for $ per share.
Murphy Company sold some of its shares in ZZ Inc. as follows:
Aug. : shares sold for $ per share
June : shares sold for per share
The market value of the Inc. shares was:
Dec. : $ per share
Dec. : per share
Dec. : per share
Murphy Company's and income statements reported the following gains and losses:
tableRealized gainloss$ gain,$ lossUnrealized gainloss$ gain,$ loss
Calculate the balance in the investment in ZZ Inc. account reported in Murphy Company's Dec. balance sheet.
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