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please answer asap its due very soon!! thanks Presented below is information related to the purchases of common stock by Sheridan Company during 2025. (Assume

please answer asap its due very soon!! thanks image text in transcribed
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Presented below is information related to the purchases of common stock by Sheridan Company during 2025. (Assume a zero balance for any Fair Value Adjustment account at the beginning of 2025) (a) What entry would Sheridan make at December 31,2025 , to record the investment in Arroyo Company stock if it chooses to report this security using the fair value option? (b) What entry would Sheridan make at December 31. 2025, to record the investments in the Lee and Woods corporations. assuming that Sheridan did not select the fair value option for these imestments? (List all debit entries before credit entries. Credit occount titles are outamatically indented when amount is entered. Do not indent manually if no entry is required, select "No Entry' for the account titles and enter of for the amounts.) (a) What entrywould Sheridan make at December 31, 2025, to record the investment in Arroyo Company stock if it chooses to report this security using the fair value option? (b) What entry would Sheridan make at December 31,2025 , to record the investments in the Lee and Woods corporations. assuming that Sheridan did not select the fair value option for these investments? (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount titles and enter Ofor the amounts.)

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