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In September 30, 2020, Reval Ltd. invested excess cash in the shares of Adam Company. It acquired 2,000 shares at $45 each. On December 31,

In September 30, 2020, Reval Ltd. invested excess cash in the shares of Adam Company. It acquired 2,000 shares at $45 each. On December 31, 2020, and December 31, 2021, the shares of Adam were trading at $36 and $51 per share, respectively.
Required-
Assuming the investment in Adam is classified as Fair Value Through Other Comprehensive Income (FVTOCI), prepare all required journal entries in 2020 and 2021.

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