Chapter 9
Investments
466
c) Prepare journal entries for adjusting the fair value of this investment by Elle Company on
December 31, 2016. Each share was sold for $18.50.
d) Prepare journal entries for the sale of 50% of this investment by Elle Company on March
31, 2017. Each share was sold for $19.08.
Date
Account Title and Explanation
Debit
Credit
