Exercise C-12 (Algo) 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 1,200 shares of Hunt Corporation at $24 per share. september 5 Recelved a $2 cash dividend for each share of Hunt Corporation. September 27 Purchased 3,400 shares of HCA at $30 per share. October 3 sold 1,200 shares of Hunt at $19 per share. October 30 Purchased 1,400 shares of Blaek i Decker at $50 per share. December 17 Received a $3 eash dividend for each share of Black i Decker. Decenber 31 rair value of the whort-tern stock investments in $176,000. Corporation. 3 Purchased 3,400 shares of HCA at $30 per share. 4 Sold 1,200 shares of Hunt at $19 per share. 5 Purchased 1,400 shares of Black \& Decker at $50 per share. 6 . a zived a $3 cash dividend for each share of Black \& Decker. 7 Fair value of the short-term stock investments is $176,000. Record the year-end adjustment to fair value, if any. 1 Purchased 1,200 shares of Hunt Corporation at $24 per share. 2 Received a \$2 cash dividend for each share of Hunt C oration. 3 Purchased 3,400 shares of HCA at $30 per share. 4 Sold 1,200 shares of Hunt at \$19 per share. 5 Purchased 1,400 shares of Black \& Decker at $50 per share. 6 Received a $3 cash dividend for each share of Black \& Decker