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An investor purchased 200 shares of Mallard common stock at $20 per share on March 15 . On December 31 , the stock was quoted
An investor purchased 200 shares of Mallard common stock at $20 per share on March 15 . On December 31 , the stock was quoted at $19 per share and Mallard declared and paid a dividend of $1.50 per share. On June 5 of the following year, the investor sold all 200 shares for $22 per share. On December 31 of each year, the Fair Value Adjustment account is adjusted. Assuming the investment is measured at FV-NI, provide the journal entries to be made at each of the following dates. a. March 15, Year 1. b. December 31 , Year 1. c. June 5, Year 2. d. December 31, Year 2
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