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Carisville Company began operations in the current year and had no prior stock investments. The following transactions are from its short-term stock investments with insignificant
Carisville Company began operations in the current year and had no prior stock investments. The following transactions are from its short-term stock investments with insignificant influence. Prepare journal entries to record these transactions. On December 31 , prepare the adjusting entry to record the fair value adjustment for the portfolio of stock investments. July 22 purehased 1,400 sharee of Hunt corporation at $26 per share. September 5 Received a $2 canh dividend for each share of llunt corporation. september 27 purehased 3,200 aharen of liCA at $29 per ahare. October 3 sold 1,400 aharen of llunt at $21 per mhare. october 30 purchased 1,200 shares of Black b Decker at $54 per share. December 17 Received a $3 cash dividend for each share of glack \& Decker. December 31 Fair value of the short-term stock investmental is $162,000," Journal entry worksheet 567 Purchased 1,400 shares of Hunt Corporation at $26 per share. Note: Enter debits before credits. Journal entry worksheet 567 Received a $2 cash dividend for each share of Hunt Corporation. Note: Enter debits before credits. Journal entry worksheet 56 Purchased 3,200 shares of HCA at $29 per share. Note: Enter debits before credits. Journal entry worksheet 1 2 Sold 1,400 shares of Hunt at $21 per share. Note: Enter debits before credits. Journal entry worksheet Purchased 1,200 shares of Black \& Decker at $54 per share. Note: Enter debits before credits. Journal entry worksheet Received a $3 cash dividend for each share of Black \& Decker. Note: Enter debits before credits. Journal entry worksheet Fair value of the short-term stock investments is $162,000. Record the yearend adjustment to fair value, if any. Note: Enter debits before credits
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