On December 31, 2014, Turnball Associates owned the following securities, held as a long-term investment. The securities are not held for influence or control of the investee.

Common Stock		Shares		Cost
Gehring Co.		1,960		$62,720
Wooderson Co.		4,810		48,100
Kitselton Co.		1,400		26,600

On December 31, 2014, the total fair value of the securities was equal to its cost. In 2015, the following transactions occurred.

July	1		Received $2 per share semiannual cash dividend on Wooderson Co. common stock.
Aug.	1		Received $0.50 per share cash dividend on Gehring Co. common stock.
Sept.	1		Sold 1,443 shares of Wooderson Co. common stock for cash at $9 per share.
Oct.	1		Sold 784 shares of Gehring Co. common stock for cash at $35 per share.
Nov.	1		Received $2 per share cash dividend on Kitselton Co. common stock.
Dec.	15		Received $0.50 per share cash dividend on Gehring Co. common stock.
Dec.	31		Received $2 per share semiannual cash dividend on Wooderson Co. common stock.

At December 31, the fair values per share of the common stocks were: Gehring Co. $34, Wooderson Co. $9, and Kitselton Co. $17.

Journalize the 2015 transactions and post to the account Stock Investments. (Use the T-account form.)

Prepare the adjusting entry at December 31, 2015, to show the securities at fair value. The stock should be classified as available-for-sale securities.

Show the balance sheet presentation of the investments at December 31, 2015. At this date, Turnball Associates has common stock $1,539,500 and retained earnings $1,005,100.