Exercise 15-10 Transactions and fair value adjustments for stock investments with insignificant influence LO P4 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 1,400 shares of Hunt Corp. at $25 per share. Sept. 5 Received a $2 cash dividend for each share of Hunt Corp. Sept. 27 Purchased 3,200 shares of HCA at $22 per share. Oct. 3 Sold 1,400 shares of Hunt at $20 per share. Oct. 30 Purchased 1,000 shares of Black & Decker at $44 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 $118,000. View transaction list Journal entry worksheet Purchased 1,400 shares of Hunt Corp. at $25 per share. Note: Enter debits before credits. Date General Journal Debit Credit Jul 22 Record entry Clear entry View general journal 1 Purchased 1,400 shares of Hunt Corp. at $25 per share. 2 Received a $2 cash dividend for each share of Hunt Corp. 3 Purchased 3,200 shares of HCA at $22 per share. 4 Sold 1,400 shares of Hunt at $20 per share. 5 Purchased 1,000 shares of Black & Decker at $44 per share. 6 Received a $3 cash dividend for each share of Black & Decker. 7 Fair value of the short-term stock investments is $118,000. Record the year-end adjustment to fair value