Prepare journal entries for investments
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Prepare journal entries for investments using the fair value and the equity method. How does it relate to the practice of accounting and its uses in business?
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Prepare journal entries for investments using the fair value and the equity method. How does it relate to the practice of accounting and its uses in business?
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Since there are no actual numbers with this question, I will just pick random amounts.
If we were to record under the equity method, it would look like this:
Securities 10,000
Cash 10,000
The dividends and/or interest received would be recorded as follows:
Cash 1,000
Dividend revenue 1,000 ...
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