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P17-10 (L02) EXCEL (Equity Investments) Castleman Holdings, Inc. had the following equity investment portfolio at January 1, 2017 Evers Company 1,000 shares $15 each $15,000

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P17-10 (L02) EXCEL (Equity Investments) Castleman Holdings, Inc. had the following equity investment portfolio at January 1, 2017 Evers Company 1,000 shares $15 each $15,000 Rogers Company 900 shares @ $20 each 18,000 Chance Company 500 shares @ $9 each 4,500 Equity investments cost 37,500 Fair value adjustment (7,500) Equity investments & fair value $30,000 During 2017, the following transactions took place. 1. On March 1, Rogers Company paid a $2 per share dividend. 2. On April 30, Castleman Holdings, Inc. sold 300 shares of Chance Company for $11 per share. 3. On May 15, Castleman Holdings, Inc. purchased 100 more shares of Evers Company stock at $16 per share. 4. At December 31, 2017, the stocks had the following price per share values: Evers $17, Rogers $19, and Chance 58 During 2018, the following transactions took place. 5. On February 1, Castleman Holdings, Inc. sold the remaining Chance shares for $8 per share. 6. On March 1, Rogers Company paid a $2 per share dividend. 7. On December 21, Evers Company declared a cash dividend of S3 per share to be paid in the next month. 8. At December 31, 2018, the stocks had the following price per share values: Evers $19 and Rogers $21. Instructions (a) Prepare journal entries for each of the above transactions (1) Prepare a partial balance sheet showing the investment-related amounts to be reported at December 31, 2017 and 2018

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