GL1501 (Algo) - Based on Problem 15-4A LO P4 JCW Corporation had no short-term investments prior to this year. It had the following transactions this year involving short-term stock investments with insignificant influence. April 16 Purchased 5,500 shares of Barcelona Company stock at $25 per share. July 7 Purchased 4,000 shares of Lafayette Company stock at $50 per share. July 20 Purchased 1,800 shares of Fields company stock at $17 per share. August 15 Received an $1.30 per share cash dividend on the Barcelona Company stock. August 28 Sold 3,300 shares of Barcelona Company stock at $28 per share. October 1 Received a $2.90 per share cash dividend on the Lafayette Company shares. December 15 Received a $1.60 per share cash dividend on the remaining Sarcelona Company shares. December 31 Received a $2.30 per share cash dividend on the Lafayette Company shares. Requirement General Journal General Ledger Trial Balance Fair Value Adj Transaction Analysis Fin 5t Impact General Journal tab - Prepare the required journal entries for each of the transactions of CW Corporation for the current year. Prepare the adjustment to fall value for the available-for-sale portfolio General Ledger and Trial Balance tabs -The cost of each of the available for sale securities can be found on the General Ledger and/or Trial balance tabs. Fair Value Adjustment tab. Calculate the total cost and total fair value of the available for sale portfolio, and then use the 3-step adjusting entry process to calculate the amount of the year-end adjustment to fair value. Transaction Analysis tab - For each transaction indicate the total impact on assets and equity. If equity changed, indicate whether the change was a component of Income or a direct component of stockholders' equity. Financial Statement impact tab - Prove the accuracy of the totals on the Transaction Analysis tab by selecting the account titles that report the total change in income and equity. GL1501 (Algo) - Based on Problem 15-4A LO P4 JCW Corporation had no short-term investments prior to this year. It had the following transactions this year involving short-term stock investments with insignificant influence. April 16 Purchased 5,500 shares of Barcelona Company stock at $25 per share. July 7 Purchased 4,000 shares of Lafayette Company stock at $50 per share. July 20 Purchased 1,800 shares of Fields company stock at $17 per share. August 15 Received an $1.30 per share cash dividend on the Barcelona Company stock. August 28 Sold 3,300 shares of Barcelona Company stock at $28 per share. October 1 Received a $2.90 per share cash dividend on the Lafayette Company shares. December 15 Received a $1.60 per share cash dividend on the remaining Sarcelona Company shares. December 31 Received a $2.30 per share cash dividend on the Lafayette Company shares. Requirement General Journal General Ledger Trial Balance Fair Value Adj Transaction Analysis Fin 5t Impact General Journal tab - Prepare the required journal entries for each of the transactions of CW Corporation for the current year. Prepare the adjustment to fall value for the available-for-sale portfolio General Ledger and Trial Balance tabs -The cost of each of the available for sale securities can be found on the General Ledger and/or Trial balance tabs. Fair Value Adjustment tab. Calculate the total cost and total fair value of the available for sale portfolio, and then use the 3-step adjusting entry process to calculate the amount of the year-end adjustment to fair value. Transaction Analysis tab - For each transaction indicate the total impact on assets and equity. If equity changed, indicate whether the change was a component of Income or a direct component of stockholders' equity. Financial Statement impact tab - Prove the accuracy of the totals on the Transaction Analysis tab by selecting the account titles that report the total change in income and equity
