Question
On August 20, 2016, Madak, Co. decides to invest excess cash of $13,200 by purchasing 1,100 shares of Eagle, Inc. stock at $12 per share.
On August 20, 2016, Madak, Co. decides to invest excess cash of $13,200 by purchasing 1,100 shares of Eagle, Inc. stock at $12 per share. At year-end, December 31, 2016, Eagle's
market price was $5 per share. The investment is categorized as available-for-sale. Journalize the adjusting entry needed at December 31, 2016.
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Marketing Research
Authors: David A. Aaker, V. Kumar , George S. Day
8th Edition
047123057X, 9780471230571
