Lafayette Corporation had no short-term investments prior to this year. It had the following transactions this year involving short-ter stock investments with insignificant influence. April 16 July 7 July 20 August 15 August 28 October 1 December 15 December 31 Purchased 5,000 shares of Marshall Company stock at $27 per share.. Purchased 3,500 shares of Twinings Company stock at $52 per share. Purchased 1,600 shares of Dade Company stock at $19 per share. Received an $1.28 per share cash dividend on the Marshall Company stock. Sold 3,000 shares of Marshall Company stock at $30 per share. Received a $3.80 per share cash dividend on the Twinings Company shares. Received a $1.40 per share cash dividend on the remaining Marshall Company shares. Received a $3.20 per share cash dividend on the Twinings Company shares. Requirement es General Journal General Ledger Trial Balance Fair Value Transaction Adjustment Analysis Financial Statement Impact The year-end fair values per share are: Marshall Company, $28.00; Twinings Company, $50.50; and Dade Company, $16.00. 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. Cost of investments at December 31 Marshall Company stock Twinings Company stock Dade Company Total cost Number of Shares 2.000 3.500 1,600 Cost $ 54.000 182.000 30.400 288 400 roject Part 1 i Saved GL1501 (Algo) - Based on Problem 15-4A LO P4 Lafayette Corporation had no short-term investments prior to this year. It had the following transactions this year involving sho stock investments with insignificant influence. April 16 Purchased 5,000 shares of Marshall Company stock at $27 per share. July 7 July 28 August 15 August 28 October 1 December 15 December 31 Purchased 3,500 shares of Twinings Company stock at $52 per share. Purchased 1,600 shares of Dade Company stock at $19 per share. Received an $1.20 per share cash dividend on the Marshall Company stock. Sold 3,000 shares of Marshall Company stock at $30 per share. Received a $3.80 per share cash dividend on the Twinings Company shares. Received a $1.40 per share cash dividend on the remaining Marshall Company shares. Received a $3.20 per share cash dividend on the Twinings Company shares. Requireme General Journal General Ledger Trial Balance Fair Value Adjustment Transaction Analysis Financial Statement Impact General Journal tab - Prepare the required journal entries for each of the transactions of Lafayette Corporation for the current year. Prepare the adjustment to fair 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, General Journal > Prev 7 of Next > Q Search Cloudy L D A- F2 + F3 F4 *- F5 F6 # $ % F7 & A F8 F9 P F10 roject: Part 10 Saved October 1 Received a $3.80 per share cash dividend on the Twinings Company shares. December 15 Received a $1.40 per share cash dividend on the remaining Marshall Company shares. December 31 Received a $3.20 per share cash dividend on the Twinings Company shares. Requirement General Joumal General Ledger Trial Balance Fair Value Adjustment Transaction Analysis Financial Statement Impact The year-end fair values per share are: Marshall Company, $28.00; Twinings Company, $50.50; and Dade Company, $16.00. 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. Cost of investments at December 31: Marshall Company stock Twinings Company stock Dade Company Number of Shares 2.000 3.500 Cost 54,000 ME by cloudy F1 182.000 30.400 266.400 Fair value of investments at December 31: Number of Shares Fair value per share Fair Value Marshall Company stock 0000 Twinings Company stock Dade Company 3.500 1.600 2 Total unrealized gain loss as of December 31:| Determine what the unadjusted balance in the fair value adjustment equs s Determine what the adjusted balance in the fair value adjustment account Determine the amount of the adjustment to the fair value adjustment account required to get from Step 1 to Step 2 F2 + F3 F4 Q Search - 0+ F5 F6 F7 % 25 S4 $ # 3 6 W E R T Y 27 & L + BL F8 F9 F10 F11 F12 U 8* 6 O 0 P QMQpydex.NUM!_coh=con&external_browser=0&launchUrl=https%253A%252F%252Fnewo be Maps College Homepage - CISS 1... What is Accounts Pa... Q Quiz9 short questio... Financial Acco ect: Part 1 i Saved Requirement General General Ledger Trial Balance Fair Value Adjustment Transaction Analysis Financial Statement Impact For each transaction, indicate the change, if any, in total assets and total equity. If equity changes, indicate whether the change was change in total assets must agree with the change in total equity. reflected as a component of net income, or directly within the stockholders' equity portion of the balance sheet. Remember that the Change in Change in equity: Total assets As a component of net income As a direct component of stockholders' equity Total change in equity April 16) Purchased-5,000 shares of Marshall Company stock at $27 July 7) Purchased 3,500 shares of Twinings Company stock at $52 per July 20) Purchased 1,600 shares of Dade Company stock at $19 per Company stock. August 15) Received an $1.20 per share cash dividend on the Marshal August 28) Sold 3,000 shares of Marshall Company stock at $30 per October 1) Received a $3.80 per share cash dividend on the Twinings December 21) Received a $3.20 per share cash dividend on the Q Search dy 2 F2 A+ #3 F3 x F4 - F5 $ 4 % 5 *+ 0 D Show less L t F6 F7 F8 6 27 & 8 F9 B BOD F10 F11 F12 ( 9 0