On September 4, 2016, Chester Fish Company purchased 1,000 shares of Christopher Company common stock for
$76 per share as a short-term investment in securities classified as available-for-sale. On December 31, 2016, the stock had a fair value of $72 per share, and on March 10, 2017, Chester sold the stock for $80 per share.
Required:
In journal entry form, prepare the spreadsheet entries to record these transactions for Chester Fish Company's 2016 and 2017 statement of cash flows.

Question

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The Answer of On September 4, 2016, Chester Fish Company purchased 1,000 shares of Christopher Company common stock for
$76 per share as a short-term investment in securities classified as available-for-sale. On December 31, 2016, the stock had a fair value of $72 per share, and on March 10, 2017, Chester sold the stock for $80 per share.
Required:
In journal entry form, prepare the spreadsheet entries to record these transactions for Chester Fish Company's 2016 and 2017 statement of cash flows.

On September 4, 2016, Chester Fish Company Purchased 1,000 Shares