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3. Prepare an adjusting entry, if necessary, to record the year-end fair value adjustment for the portfolio of short-term investments in available-for-sale securities. (If no

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3. Prepare an adjusting entry, if necessary, to record the year-end fair value adjustment for the portfolio of short-term investments in available-for-sale securities. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list View journal entry worksheet Credit No Date Dec 31, 2017 General Journal Unrealized loss-Equity Fair value adjustment-AFS (ST) Debit 4,128 2. Prepare a table to compare the year-end cost and fair values of Rose's short-term investments in available for sale securities. The year-end fair values per share are: Gem Co., $24.25, PepsiCo, $50.25, and Xerox, $13.00. Gem Co. PepsiCo Xerox Total Answer is not complete. Comparison of Cost and Fair Values for AFS Portfolio Fair Cost - Unrealized Value Amount $ 48,590 106.430 16,510 $ 171,530 S 0 Required information Problem 15-2A Recording, adjusting, and reporting short-term available-for-sale securities LO P3 [The following information applies to the questions displayed below.] Rose Company had no short-term investments prior to year 2017. It had the following transactions involving short-term investments in available-for-sale securities during 2017 Apr. 16 Purchased 4,000 shares of Gem Co. stock at $22.99 per share plus a $460 brokerage fee. May 1 Paid $280,000 to buy 3-month U.S. Treasury bills (debt securities): $280,000 principal amount, 6% interest, securities mature on July 31. July 7 Purchased 2,000 shares of PepsiCo stock at $53.00 per share plus a $430 brokerage fee. 20 Purchased 1,000 shares of Xerox stock at $16.00 per share plus a 5510 brokerage fee. Aug 1 Received a check for principal and accrued interest on the U.S. Treasury bills that matured on July 31. 15 Received an $.85 per share cash dividend on the Gem Co. stock. 28 Sold 2,000 shares of Gem Co. stock at $28.75 per share less a $550 brokerage fee. Oct. 1 Received a $1.80 per share cash dividend on the PepsiCo shares. Dec. 15 Received a $1.00 per share cash dividend on the remaining Gen Co. shares. 31 Received a $1.25 per share cash dividend on the PepsiCo shares

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