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Prepare Tiker Company's journal entries to record the following transactions and the adjusting entry to...

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Accounting

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Prepare Tiker Company's journal entries to record the following transactions and the 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 400 shares of Higo stock as a short-term investment at a cost of $45 per share. Tiker hos insignificant influence over Higo. June 2 Sells 160 shares of its investment in Higo stock ($2,200 cost) at 548 per share. Dec. 31 The closing market price (fair value of the Higo stack is $43 per share

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