April 16 Purchased 5,500 shares of JCW Company stock at $30 per share. July 7 Purchased 4,000 shares of Twist Company stock at $55 per share. July 20 Purchased 1,800 shares of Van Company stock at $22 per share. August 15 Received an $1.30 per share cash dividend on the JCW Company stock. August 28 Sold 3,300 shares of JCW Company stock at $33 per share. October 1 Received a $5.40 per share cash dividend on the Twist Company shares. December 15 Received a $1.60 per share cash dividend on the remaining JCW Company shares. December 31 Received a $4.80 per share cash dividend on the Twist Company shares. Requirement General General Journal Ledger Trial Balance Fair Value Ads Transaction Analysis Fin St Impact Prepare journal entries to record each of the transactions and event. Transaction Analysis purwore and adjustment to fair value, if a ces View transaction list Journal entry worksheet 2 3 4 5 6 7 8 9 > Purchased 5,500 shares of JCW Company stock at $30 per share, Noter Enter debits before credits. Date Account Title Debit Credit Apr 16 Record entry Clear entry View general Journal lates Of JCW Company stock at $30 per share. July 7 Purchased 4,000 shares of Twist Company stock at $55 per share. July 20 Purchased 1,800 shares of Van Company stock at $22 per share. August 15 Received an $1.30 per share cash dividend on the JCW Company stock. August 28 Sold 3,300 shares of JCW Company stock at $33 per share. October 1 Received a $5.40 per share cash dividend on the Twist Company shares. December 15 Received a $1.60 per share cash dividend on the remaining JCW Company shares. December 31 Received a $4.80 per share cash dividend on the Twist Company shares. Requirement General Journal Gaineral ibodger Trial Balance Fair Value Ad) Transaction Analysis Fin St Impact General Ledger Account Cash Accounts receivable No. Debit Credit No. Debit Credit Date Jan 01 Balance 1,155,000 Date Jan 01 Balance 105,000 Inventory Debit Accounts payable Debit Credit No Credit No Date Jan 01 Date Balance 45,000 Balance 45,000 Jan 01 Long-term notos payable Debit Credit Common stock Debit Credit No. No Date Jan 01 Balance 310,000 Date Jan 01 Balance 350,000 Paid-in capital in excess of par. Common Date Debit Credit Jan 01 Retained earnings Debit Credit No. No. Balance 100,000 Date Jan 01 Balance 500,000 General Journal Trial Balance > July 7 Purchased 4,000 shares of Twist Company stock at $55 per share. July 20 Purchased 1,800 shares of Van Company stock at $22 per share. August 15 Received an $1.30 per share cash dividend on the JCW Company stock. August 28 Sold 3,300 shares of JCW Company stock at $33 per share. October 1 Received a $5.40 per share cash dividend on the Twist Company shares. December 15 Received a $1.60 per share cash dividend on the remaining JCW Company shares. December 31 Received a $4.80 per share cash dividend on the Twist Company shares. Requirement General Journal General Ledger Trial Balance Fair Value Adj Transaction Analysis Fin St Impact Select either unadjusted or adjusted from the drop-down below to see the balances before or after the year-end adjustment to fair value. Dade Corporation Trial Balance December 31, 2022 Debit Credit Account Title $ 1,155,000 105,000 45,000 27 Cash Accounts receivable Inventory Accounts payable Long-term notes payable Common stock Paid-in capital in excess of par - Common Retained earnings 2 45,000 310,000 350,000 100,000 500,000 1,305,000 $ 1,305,000 $ Total July 7 Purchased 4,000 shares of Twist Company stock at $55 per shape. July 20 Purchased 1,800 shares of Van Company stock at $22 per share. August 15 Received an $1.30 per share cash dividend on the JCW Company stock. August 28 Sold 3,300 shares of JCW Company stock at $33 per share. October 1 Received a $5.40 per share cash dividend on the Twist Company shares. December 15 Received a $1.60 per share cash dividend on the remaining JCW Company shares. December 31 Received a $4.80 per share cash dividend on the Twist Company shares. Requirement General Journal Fin St Impact General Ledger Trial Balance Fair Value Ad) Transaction Analysis The year-end fair values per share are: JCW Company, $31.00; Twist Company, $53.50; and Van Company, $19.00. Calculate the total cost and total fair value of the available-for-sale portfolio as of December 31, and calculate the amount of the required year-end adjusting entry, if any. Cost # of Shares Cost of investments at December 31: JCW Company stock Twist Company stock Van Company Total cost # of Shares Fair value per share Fair Value Fair value of Investments at December 31: JCW Company stock Twist Company stock Van Company Total fair value Total unrealized gain/loss as of December 31: Step 1: Step 2: Determine what the unadjusted balance in the fair value adjustment equals: Determine what the adjusted balance in the fair value adjustment account should equal Determine the amount of the adjustment to the fair value adjustment account required to get from Step 1 to Step 2 Step 3 April 16 Purchased 5,500 shares of JCW Company stock at $30 per share. July 7 Purchased 4,000 shares of TVist Company stock at $55 per share. July 20 Purchased 1,800 shares of Van Company stock at $22 per share. August 15 Received an $1.30 per share cash dividend on the JCW Company stock. August 28 Sold 3,300 shares of JCW Company stock at $33 per share. October 1 Received a $5.40 per share cash dividend on the Twist Company shares. December 15 Received a $1.60 per share cash dividend on the remaining JCW Company shares. December 31 Received a $4.80 per share cash dividend on the Twist Company shares. Requirement General Journal General Ledger Trial Balance Fair Value Ad) Transaction Analysis Fin St Impact For each transaction, indicate the change, if any, in total assets and totalfequity. If equity changes, indicate whether the change was reflected as a component of net income, or directly within the stockholders' equity portion of the balance sheet. Remember that the change in total assets must agree with the change in total equity. Show less Change in Change in equity: As a direct As a component of component of Total change net income stockholders' In equity equity Total assets Apr 16) Purchased 5,500 shares of JCW Company stock at $30 per share. Jul. 7) Purchased 4,000 shares of Twist Company stock at $55 per share. Jul . 20) Purchased 1,800 shares of Van Company stock at-$22 per share Aug. 15) Received an $1.30 per share cash dividend on the JCW Company stock Aug 28) Sold 3,300 shares of JCW Company stock at $33 per share Oct 1) Received a $5.40 per share cash dividend on the Twist Company shares Dec. 15) Received a $1.60 per share cash dividend on the remaining JCW Company shares. Dec. 31) Received a $4.80 per share cash dividend on the Twist Company shares Dec. 31) Adjusted the securities to year-end fair value Totals
Dade Corporation had no short-term investments prior to this year. It had the following transactions this year involving sh- investments with insignificant influence. April 16 Purchased 5,500 shares of JCW Company stock at $30 per share. July 7 Purchased 4,000 shares of Twist Company stock at $55 per share. July 20 Purchased 1,800 shares of Van Company stock at $22 per share. August 15 Received an $1.30 per share cash dividend on the JCW Company stock. August 28 Sold 3,300 shares of JCW Company stock at $33 per share. October 1 Received a $5.40 per share cash dividend on the Twist Company shares. December 15 Received a $1.60 per share cash dividend on the remaining JCW Company shares. December 31 Received a $4.80 per share cash dividend on the twist Company shares. General Requirement General Journal Transaction Ledger Trial Balance Fair Value Ads Fin St Impact Analysis Prove the accuracy of your responses on the Transaction Analysis tab by selecting the account titles reported on the income statement or as a component of stockholders' equity. On the transaction analysis tab, you indicated that total income changed by: Select the income statement account balances that prove this amount: Total net income
