Hybrid Corporation began operations in 2018 and during that year purchased equity investments. It owns less...
Hybrid Corporation began operations in 2018 and during that year purchased equity investments. It owns less than 20% of the voting shares for all companies whose stock it purchased. The year-end cost and fair values for its long-term investments in equity stock are shown below:
Cost Fair Value
December 31, 2018 $200,000 $180,000
December 31, 2019 $340,000 $375,000
December 31, 2020 $100,000 $ 60,000
Prepare journal entries to record each year-end’s fair value adjustment for the above securities.
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Hybrid Corporation began operations in 2018 and during that year
purchased equity investments. It owns less...
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