Carlsville 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		Purchased 1,600 shares of Hunt Corp. at $20 per share. 1,600 * $20 = $32,000
Sept.		5		Received a $2 cash dividend for each share of Hunt Corp. 1,600 * $2 =$3,200
Sept.		27		Purchased 3,500 shares of HCA at $24 per share. 3,500 * $24 = $84,000
Oct.		3		Sold 1,600 shares of Hunt at $15 per share. (Cash 1,600 * $15 = $24,000) (Gain on investment 1,600 * $20 = $32,000 - $24,000 = $8,000) Stock interest
Oct.		30		Purchased 1,300 shares of Black & Decker at $48 per share.
Dec.		17		Received a $3 cash dividend for each share of Black & Decker.
Dec.		31		Fair value of the short-term stock investments is $151,000.