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PLEASE HELP ASAP 3. Mire Corporation had the following transactions involving stock investments with insignificant influence during the year. Prior to these transactions, Mire had
PLEASE HELP ASAP
3. Mire Corporation had the following transactions involving stock investments with insignificant influence during the year. Prior to these transactions, Mire had never had any investments. Prepare the required journal entries to record these transactions. I February Purchased 800 shares of HM Corporation stock at $28 per 16 share. February Purchased 500 shares of Sugarland Company stock at $19 per 26 share. March 2 Received a $0.95 per share dividend from the HM Corporation March 28 Sold 200 shares of HM Corporation stock for $31 per share. April 20 Sold 150 shares of Sugarland Company stock at $17 per share. April 30 The company is preparing quarterly financial statements; prepare an adjusting entry for the fair value adjustment on the stock investments. At April 30, the HM stock has a fair value of $30 per share, and the Sugarland stock has a fair value of $16 per share Step by Step Solution
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