Business, 28.03.2022 20:30, Dalmcdan01

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 9 Purchases 440 shares of Higo stock as a short-term investment at a cost of $49 per share. Tiker has insignificant influence over Higo.
June 2 Sells 200 shares of its investment in Higo stock ($9,800 cost) at $52 per share.
December 31 The closing market price (fair value) of the Higo stock is $47 per share.

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Prepare Tiker Company's journal entries to record the following transactions and the adjusting entry...