Prepare Tiker Company's Journal Entries To Record The Following Transactions For The Current Year, Includ- Ing Any Adjusting Entry To Record The Fair Value Of The Stock Investments Portfolio. This Is The First And Only Time The Company Purchased Such Securities. May 9 Purchases 200 Shares Of Higo Stock As A Short-Term Investment At A Cost Of $30 Per Share.

 

 

 

 

Prepare Tiker Company's journal entries to record the following transactions for the current year, includ- ing any adjusting entry to record the fair value of the stock investments portfolio. This is the first and only time the company purchased such securities. May 9 June 2 Dec. 31 Purchases 200 shares of Higo stock as a short-term investment at a cost of $30 per share. Tiker has insignificant influence over Higo. Sells 20 shares of its investment in Higo stock ($600 cost) at $33 per share. The closing market price (fair value) of the Higo stock is $23 per share. QS C-9 Investment in equity securities with insignificant influence P4