Tekky Corporation purchased an equity investment in Hui Zu, Ltd. on December 15 for $ 100,000 and

Question:

Tekky purchased an equity investment in Hui Zu, Ltd. on December 15 for $ 100,000 and sold it the following June 22 for $ 114,000. Tekky accounts for the equity investment as an available- for- sale security. Hui Zu, Ltd.’ s equity is not actively traded and it does not have a readily determinable fair value. What are the necessary journal entries? Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...