Bramble Corp, provided you with the following information about its investment in Fahad Corp, shares purchased in May 2017 and accounted for using the FV-OCI method: Cost Fair value, December 31, 2017 50,100 Par value, December 31, 2018 38,600 Fair valua, December 31, 2019 43,700 $47,900 Prepare the acjusting jaurnal entries needed on Deccmber 31, 2017, 2018, and 2019. (Credit account tities are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account tities and enter 0 for the amounts.) DateAccount Titles and Explanation Debit Credit Dec. 31, 2017 Dec. 31, 2018 Dec. 31, 2019 Octermine the balance in acaumulated other comprchensiwe Income on the statement of financial pcsition on each af Docember 31, 2017. 2018, and 2019. (Enter ncgative amount using cither a negative sign preceding the number o.g.-45 or parentheses .g. (45).) December 31, 2017 Decembor 31, 2018 December 31, 2019 Balance at year end Assume that Bramble sold its investment in Fahad Corp. on February 13, 2020, for $45,600. Prepare the journal entries rneeded on this date, assuming no recycling. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account tities and enter 0 for the amounts.) Date Account Tities and Explanation Debit Credit Feb. 13, 2020 Ta bring the Investment to its fair value) Feb. 13, 2020 To record the proceeds on disposal) Feb. 13, 2020 (To transfer the holding gain Toss for reclassication adjustment) Bramble Corp, provided you with the following information about its investment in Fahad Corp, shares purchased in May 2017 and accounted for using the FV-OCI method: Cost Fair value, December 31, 2017 50,100 Par value, December 31, 2018 38,600 Fair valua, December 31, 2019 43,700 $47,900 Prepare the acjusting jaurnal entries needed on Deccmber 31, 2017, 2018, and 2019. (Credit account tities are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account tities and enter 0 for the amounts.) DateAccount Titles and Explanation Debit Credit Dec. 31, 2017 Dec. 31, 2018 Dec. 31, 2019 Octermine the balance in acaumulated other comprchensiwe Income on the statement of financial pcsition on each af Docember 31, 2017. 2018, and 2019. (Enter ncgative amount using cither a negative sign preceding the number o.g.-45 or parentheses .g. (45).) December 31, 2017 Decembor 31, 2018 December 31, 2019 Balance at year end Assume that Bramble sold its investment in Fahad Corp. on February 13, 2020, for $45,600. Prepare the journal entries rneeded on this date, assuming no recycling. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account tities and enter 0 for the amounts.) Date Account Tities and Explanation Debit Credit Feb. 13, 2020 Ta bring the Investment to its fair value) Feb. 13, 2020 To record the proceeds on disposal) Feb. 13, 2020 (To transfer the holding gain Toss for reclassication adjustment)
