Cost Cost of investments at December 31: # of Shares Kohler Company stoclk JCW Co. stock Ontario Co Total cost Fair value per share Fair value of investments at December 31: # of Shares Fair Value Kohler Company stock JCW Co. stock Ontario Co Total fair value Total unrealized gain/loss as of December 31: Step 1 Step 2: Step 3 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 Trial Balance Transaction Analysis CH 15 Homework - GRADED Saved Help Save & Exit Submit Check my work 5 GL1501- Based on Problem 15-2A LO P3 Porter Corp. had no short-term investments prior to year 2017. It had the following transactions involving short-term investments in 2 points available-for-sale securities during 2017 Apr. 16 Purchased 6,500 shares of Kohler Co. stock at $29 per share plus a $650 brokerage fee 03:20:52 May 1 Paid $200,000 to buy 3-month U.S. Treasury bills (debt securities): $200,000 principal amount, 8% interest, July 7 Purchased 4,500 shares of JCW Co. stock at $54 per share plus a $900 brokerage fee Aug. 1 Received a check for principal and accrued interest on the U.S. Treasury bills that matured on July 31 securities mature on July 31. 20 Purchased 2,000 shares of Ontario Co. stock at $21 per share plus a $400 brokerage fee 15 Received an $1.40 per share cash dividend on the Kohler Co. stock eBook Ask 28 Sold 3,900 shares of Kohler Co. stock at $32 per share less a $780 brokerage fee Oct. 1 Received a $4.40 per share cash dividend on the JCW Co. shares. Dec. 15 Received a $1.70 per share cash dividend on the remaining Kohler Co. shares Print 31 Received a $3.80 per share cash dividend on the JCW Co. shares References Transaction iSt Impact General General Ledger Requirement Trial Balance Fair Value Adj Analysis The year-end fair values per share are: Kohler Co., $30.00; JCW Co., $52.50; and Ontario Co., $18.00. 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 Adjusted Cost of investments at December 31: # of Shares Cost Kohler Company stock JCW Co. stock Cost Cost of investments at December 31: # of Shares Kohler Company stoclk JCW Co. stock Ontario Co Total cost Fair value per share Fair value of investments at December 31: # of Shares Fair Value Kohler Company stock JCW Co. stock Ontario Co Total fair value Total unrealized gain/loss as of December 31: Step 1 Step 2: Step 3 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 Trial Balance Transaction Analysis CH 15 Homework - GRADED Saved Help Save & Exit Submit Check my work 5 GL1501- Based on Problem 15-2A LO P3 Porter Corp. had no short-term investments prior to year 2017. It had the following transactions involving short-term investments in 2 points available-for-sale securities during 2017 Apr. 16 Purchased 6,500 shares of Kohler Co. stock at $29 per share plus a $650 brokerage fee 03:20:52 May 1 Paid $200,000 to buy 3-month U.S. Treasury bills (debt securities): $200,000 principal amount, 8% interest, July 7 Purchased 4,500 shares of JCW Co. stock at $54 per share plus a $900 brokerage fee Aug. 1 Received a check for principal and accrued interest on the U.S. Treasury bills that matured on July 31 securities mature on July 31. 20 Purchased 2,000 shares of Ontario Co. stock at $21 per share plus a $400 brokerage fee 15 Received an $1.40 per share cash dividend on the Kohler Co. stock eBook Ask 28 Sold 3,900 shares of Kohler Co. stock at $32 per share less a $780 brokerage fee Oct. 1 Received a $4.40 per share cash dividend on the JCW Co. shares. Dec. 15 Received a $1.70 per share cash dividend on the remaining Kohler Co. shares Print 31 Received a $3.80 per share cash dividend on the JCW Co. shares References Transaction iSt Impact General General Ledger Requirement Trial Balance Fair Value Adj Analysis The year-end fair values per share are: Kohler Co., $30.00; JCW Co., $52.50; and Ontario Co., $18.00. 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 Adjusted Cost of investments at December 31: # of Shares Cost Kohler Company stock JCW Co. stock