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Prepare walmart balance sheet presentation of investment

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Reference no: EM132533092

On January 1, 2020, Walmart purchased 5,000 shares of Wilcox's common stock for $10/share. Wilcox had 100,000 shares of common stock outstanding at the time Walmart purchased its stock from another investor. Wilcox common stock was trading at $19/share on December 31, 2020, and $13/share on December 31, 2021. Walmart classifies its investment in Wilcox as an available for sale investment. December 31st is Walmart's fiscal year-end.

Question 1: Prepare the journal entry for Walmart's record the purchase on 1/1/20.

Question 2: Prepare the journal entry for Walmart's "mark to market" its investment on 12/31/20.

Question 3: Prepare the journal entry for Walmart's "mark to market" its investment on 12/31/21.

Question 4: Prepare Walmart's balance sheet presentation of its investment in Wilcox on 12/31/21.

Reference no: EM132533092

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