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On December 31, 2020, Ivanhoe Associates owned the following securities, held as a long-term investment. The securities are not held for influence or control of

On December 31, 2020, Ivanhoe 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.

2,000$64,000

Wooderson Co.

5,20036,400

Kitselton Co.

1,80039,600


On December 31, 2020, the total fair value of the securities was equal to its cost. In 2021, the following transactions occurred:

Aug.1Received $0.50 per share cash dividend on Gehring Co. common stock.
Sept.1Sold 1,560 shares of Wooderson Co. common stock for cash at $6 per share.
Oct.1Sold 800 shares of Gehring Co. common stock for cash at $35 per share.
Nov.1Received $2 per share cash dividend on Kitselton Co. common stock.
Dec.15Received $0.50 per share cash dividend on Gehring Co. common stock.
Dec.31Received $2 per share annual 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. $6, and Kitselton Co. $20.

Journalize the 2021 transactions and post to the account Stock Investments. (Use the T-account form.) (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem.)

Date

Account Titles and Explanation

Debit

Credit

choose a transaction date Aug. 1Sept. 1Oct. 1Nov. 1Dec. 15Dec. 31

choose a transaction date Aug. 1Sept. 1Oct. 1Nov. 1Dec. 15Dec. 31

choose a transaction date Aug. 1Sept. 1Oct. 1Nov. 1Dec. 15Dec. 31

choose a transaction date Aug. 1Sept. 1Oct. 1Nov. 1Dec. 15Dec. 31

choose a transaction date Aug. 1Sept. 1Oct. 1Nov. 1Dec. 15Dec. 31

choose a transaction date Aug. 1Sept. 1Oct. 1Nov. 1Dec. 15Dec. 31

Stock Investments

choose a transaction date Jan. 1 Bal.July 1Aug. 1Sept. 1Oct. 1Nov. 1Dec. 15Dec. 31Dec. 31 Bal.

enter a debit amount

choose a transaction date Jan. 1 Bal.July 1Aug. 1Sept. 1Oct. 1Nov. 1Dec. 15Dec. 31Dec. 31 Bal.

enter a debit balance

choose the end date of the accounting period Jan. 1 Bal.July 1Aug. 1Sept. 1Oct. 1Nov. 1Dec. 15Dec. 31Dec. 31 Bal.

List of Accounts

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