Exer h o mmation Relates to Oriole View Policies Current Attempt in Progress Here is Blue Company's portfolio of long-term stock investments at December 31, 2021, the end of its first year of operations. 700 shares of Batone Inc. common stock 600 shares of Mendez Corporation common stock 400 shares of P. Tillman Corporation preferred stock Cost $36,750 42,000 16,800 On December 31, the total cost of the portfolio equaled the total fair value. Blue had the following transactions related to the securities during 2022 Jan. 20 Sold 700 shares of Batone Inc. common stock at $55 per share. 28 Purchased 200 shares of $10 par value common stock of P. Wahl Corporation at $78 per share. 30 Received a cash dividend bf $1.25 per share on Mendez Corporation common stock. Feb. 8 Received cash dividends of $0.40 per share on P. Tillman Corporation preferred stock. 18 Sold all 400 shares of P. Tillman preferred stock at $35 per share. July 30 Received a cash dividend of $1.10 per share on Mendez Corporation common stock Sept. 6 Purchased an additional 300 shares of the $10 par value common stock of P. Wahl Corporation at $82 per share, Dec. 1 Received a cash dividend of $1.50 per share on P. Wahl Corporation common stock At December 31, 2022, the fair values of the securities Mendez Corporation common stock $65 per share P. Wahl Corporation common stock $77 per share Blue uses separate account titles for each investment, such hent in Mendez Corporation Common Stock. tomatically indented when the amount is entered. Do not indent -- H UTCH L IVELI I VITUEL Lorporation Common STOCK. Prepare journal entries to record the transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit normation to Post to the investment accounts. (Use separate T-accounts for each investment) (For accounts with zero balance select *12/31 Bal." from the list and enter "0" or leave it blank.) Investment in Batone Inc. Common Stock Investment in Mendez Corporation Common Stock Investment in P. Tillman Corporation Preferred Stock Investment in P. Wahl Corporation Common Stock Prepare the adjusting entry at December 31, 2022, to report the portfolio at fair value. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31 eTextbook and Media List of Accounts Show the balance sheet presentation at December 31, 2022 BLUE COMPANY Balance Sheet Investments e Textbook and Media List of Accounts Exer h o mmation Relates to Oriole View Policies Current Attempt in Progress Here is Blue Company's portfolio of long-term stock investments at December 31, 2021, the end of its first year of operations. 700 shares of Batone Inc. common stock 600 shares of Mendez Corporation common stock 400 shares of P. Tillman Corporation preferred stock Cost $36,750 42,000 16,800 On December 31, the total cost of the portfolio equaled the total fair value. Blue had the following transactions related to the securities during 2022 Jan. 20 Sold 700 shares of Batone Inc. common stock at $55 per share. 28 Purchased 200 shares of $10 par value common stock of P. Wahl Corporation at $78 per share. 30 Received a cash dividend bf $1.25 per share on Mendez Corporation common stock. Feb. 8 Received cash dividends of $0.40 per share on P. Tillman Corporation preferred stock. 18 Sold all 400 shares of P. Tillman preferred stock at $35 per share. July 30 Received a cash dividend of $1.10 per share on Mendez Corporation common stock Sept. 6 Purchased an additional 300 shares of the $10 par value common stock of P. Wahl Corporation at $82 per share, Dec. 1 Received a cash dividend of $1.50 per share on P. Wahl Corporation common stock At December 31, 2022, the fair values of the securities Mendez Corporation common stock $65 per share P. Wahl Corporation common stock $77 per share Blue uses separate account titles for each investment, such hent in Mendez Corporation Common Stock. tomatically indented when the amount is entered. Do not indent -- H UTCH L IVELI I VITUEL Lorporation Common STOCK. Prepare journal entries to record the transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit normation to Post to the investment accounts. (Use separate T-accounts for each investment) (For accounts with zero balance select *12/31 Bal." from the list and enter "0" or leave it blank.) Investment in Batone Inc. Common Stock Investment in Mendez Corporation Common Stock Investment in P. Tillman Corporation Preferred Stock Investment in P. Wahl Corporation Common Stock Prepare the adjusting entry at December 31, 2022, to report the portfolio at fair value. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Dec. 31 eTextbook and Media List of Accounts Show the balance sheet presentation at December 31, 2022 BLUE COMPANY Balance Sheet Investments e Textbook and Media List of Accounts
