Moore Equipment Corporation acquired the following equity investments at the beginning of Year 1. Moore does not have significant influence over the investees. Both companies are publicly traded. (Click the icon to view the equity investments.) Part 1 of 4 Points: 0 of 1 Share prices at the end of years 1 and 2 are presented below. (Click the icon to view the share prices at the end of years 1 and 2.) Read the requirements. Requirement a. Prepare the journal entry to record the acquisition of the investments. (Prepare a single compound entry. Record debits first, then credits. Exclude Account Acquisition casin Equity Investments - Cost Fair Value Adjustment - Equity Investment Interest Expense Data table Interest Payable Interest Receivable Interest Revenue Realized Gain/Loss - Net Income Realized Gain/Loss - Other Comprehensive Income Unrealized Gain/Loss - Net Income Unrealized Gain/Loss Other Comprehensive Income Description Number of shares Hodge Company 10,560 Palm Group 8,405 $ 49 $ 96 Market price per share X $ 517,440 $ 806,880 Share acquisition price Print Done Requirements a. b. C. Prepare the journal entry to record the acquisition of the investments. Prepare the journal entry to record the end of Year 1 fair value adjustment. Assume that Moore sells 5,800 Hodge Company shares for $57 per share at the beginning of Year 2. Prepare the journal entry required to record the sale Moore does not correct the fair value adjustment account at this time. d. Prepare the journal entry to record the end of Year 2 fair value adjustment. Print Done Clear all Check answer