Niger Corp provided you with the following information

about its #2046

Niger Corp provided you with the following information about its

Niger Corp. provided you with the following information about its investment in Fahad Corp.
shares purchased in May 2017 and accounted for using the FV-OCI method:

Cost ....................................................... $ 39,900

Fair value, December 31, 2017 ........................ $41,750

Fair value, December 31, 2018 ........................ $32,200

Fair value, December 31, 2019 ......................... $36,400

Instructions

(a) Prepare the adjusting journal entries needed on December 31, 2017, 2018, and 2019.

(b) Determine the balance in accumulated other comprehensive income on the statement of
financial position on each of December 31, 2017, 2018, and 2019.

(c) Assume that Niger sold its investment in Fahad Corp. on February 13, 2020, for $38,000.
Prepare the journal entry(ies) needed on this date, assuming no recycling.

Niger Corp provided you with the following information about its

ANSWER
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