QS $15-13($Static$)$ Reporting stock investments with insignificant influence LO P$4$

On May $20,$ Montero Company paid $$150,000$ to acquire $30$ shares $(4\%)$ of ORD Corporation as a long$-$term investment. On August $5,$

Montero sold one$-$tenth of the ORD shares for $$18,000.$

Prepare entries to record both the acquisition and the sale of these shares.

Should this stock investment be reported at fair value or at cost on the balance sheet?

Complete this question by entering your answers in the tabs below.

Required $1$

Required $2$

Should this stock investment be reported at fair value or at cost on the balance sheet?

Stock investment should be reported at: