Hiker Company completes the following transactions during the current year May Purchases of stock as -term for sale securities at cost of 25 per share plus $in broker fees. June 2 100 shares of its stock $per share The brokers on this sale . Dec 31 closing market price (value) of stock is $21 per share. Prepare the May 9 and 2 and the December 31 adjusting entry, This the first and only time the company purchased such securities ( no entry is required for transaction/ event, select No journal entry required in the first account field)

Hiker Company completes the following transactions during the current year. May 9 Purchases 200 shares of Higo stock as a short-term investment in available-for-sale securities at a cost of $25 per share plus $150 in broker fees. June 2 Sells 100 shares of its investment in Higo stock at $28 per share. The broker's comission on this sale is $90. Dec. 31 The closing market price (fair value) of the Higo stock is $23 per share. Prepare the May 9 and June 2 journal entries and the December 31 adjusting entry. This is the first and only time the company purchased such securities (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)