Williams Company purchases 1.000 shares of American Express common stock at the market price of $81.34 on

Question:

Williams Company purchases 1.000 shares of American Express at the market price of $81.34 on March 23, 2016. (The equity method does not apply in this situation.) Williams intends to hold this investment for more than one year. On June 22, 2016, Williams receives a cash of $0.29 per share of the American Express stock. Write the entries to
(1) Record the initial investment; and
(2) Record the receipt of the cash year-end on December 31, 2016, the American Express that Williams Company holds has a quoted market price of $84.16 per share. Assuming that Williams Company has no other investments, record the entry to adjust the American Express to fair value?
Williams Company sells its entire investment in American Express on November 22, 2017, for a total of $74,500. Record the entries for the sale?
Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...