may 10: $25,810

$1.00 per share cash dividend pay

november 12: $23,460

$1.15 per share cash dividend paid

please let me know if u need additional information.

december 31:25,600

As financial reporting advisors, we are asked by the head of Sterling Co. to advise in accounting for stock investments. This is the first year Sterling had extra cash to invest in stock investments, and it purchased 1,000 shares of LDX for $23 on January 1 of this year. The Tableau Dashboard is provided to ald us in our analysis. Fair Value of Stock Investments Portfolio Dividend Dividend $30,000 $27,500 $25,000 Fair Value $22,500 $20,000 $17.500 1. Prepare Sterling's journal entry on January 1 to record its purchase of stock investments with insignificant influence. 2. What is the fair value of Sterling's portfolio of stock investments on December 31 of this year? 3. Does Sterling record again or loss in its December 31 year-end adjusting entry to report its stock investments with insignificant influence at fair value? Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare Sterling's journal entry on January 1 to record its purchase of stock investments with insignificant influence. General Journal Debit Credit Fair value adjustment - Stock 2,000 2,000 No Date Jan 01 1 X Required Required 2 > 1. Prepare Sterling's journal entry on January 1 to record its purchase of stock investments with insignificant influence. 2. What is the fair value of Sterling's portfolio of stock investments on December 31 of this year? 3. Does Sterling record a gain or loss in its December 31 year-end adjusting entry to report its stock investments with insignificant influence at fair value? Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 What is the fair value of Sterling's portfolio of stock investments on December 31 of this year? Fair value $ 25,000 1. Prepare Sterling's journal entry on January 1 to record its purchase of stock investments with insignificant influence. 2. What is the fair value of Sterling's portfolio of stock investments on December 31 of this year? 3. Does Sterling record again or loss in its December 31 year-end adjusting entry to report its stock investments with insignificant influence at fair value? Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required Does Sterling record a gain or loss in its December 31 year-end adjusting entry to report its stock investments with insignificant influence at fair value? Gain Does Sterling record a gain or loss in its December 31 year-end adjusting entry to report its stock investments with insignificant influence at fair value?