Styles Enterprises purchased 15% of the outstanding stock of Del Ray Company. Styles paid $10 per share

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Styles Enterprises purchased 15% of the outstanding stock of Del Ray Company. Styles paid $10 per share to acquire 10,000 shares and will treat this purchase as available-for-sale securities. Par value of the stock is $1. Styles uses a calendar year, and on December 31, the market value of Del Ray stock is $12 per share. What is the entry Styles needs to make on December 31?

Posted Date: Nov 22, 2021 12:50 PM

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Styles Enterprises purchased 15% of the outstanding stock of Del Ray Company. Styles paid $10 per share

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