P17-11 (Equity InvestmentsAvailable-for-Sale) Castleman Holdings, Inc. had the following available-for-sale investment portfolio at January 1, 2014.

1,000

shares of Evers Company at

$15.00

per share

$15,000

900

shares of Rogers Company at

$20.00

per share

$18,000

500

shares of Chance Company at

$9.00

per share

$4,500

Available-for-sale securities at cost:

$37,500

Securities fair value adjustment-Available-for-sale - Credit balance

($7,500)

Available-for-sale securities at fair value:

$30,000

During 2014, the following transactions took place:

1. On March 1, Rogers Company paid a

$2.00

per share dividend.

2. On April 30, Castleman Holdings, Inc. sold

300

shares of Chance Company

for

$11.00

per share

3. On May 15, Castleman Holding, Inc. purchased

100

more shares of Evers Co.

stock at

$16.00

per share

4. At December 31, 2014, the stocks had the following price per share values:

Evers Company

$17.00

Rogers Company

$19.00

Chance Company

$8.00

During 2015 the following transactions took place:

5. On February 1, Castleman Holding, 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

$3

per share to be

paid in the next month.

8. At December 31, 2015, the stocks had the following price per share values:

Evers Company

$19.00

Rogers Company

$21.00

Instructions:
(a) Prepare journal entries for each of the above transactions.
1	Mar 1, 14	cash			1,800
		Dividend Revenue ( 2 x 900)				1,800
2	Apr 30, 14	cash			3,300
		gain on sale on investment [(11-9) x 300]				600
		equity investment- afs				2,700
3	May 15, 14	equity investment - afs			1,600
		cash ( 100 x 16)				1,600
4	Dec 31, 14	fva - afs			Amount
							unrealized holding gain or loss - equity				Amount
	Security			Cost	Fair Value	Unrealized Gain (Loss)
	Evers Company			Formula
	Calculation as desired				Formula	Formula
	Rogers Company			Formula
	Calculation as desired				Formula	Formula
	Chance Company			Formula
	Calculation as desired				Formula	Formula
	Total of Portfolio			Formula	Formula	Formula
	Previous securities fair value adjustment bal.Cr.					Amount
	Securities fair value adjustmentDr.					Formula
5	Feb 1, 14	Account Title			Amount
		Account Title			Amount
		Account Title				Amount
6	Mar 1, 14	Account Title			Amount
		Account Title				Amount
7	Dec 21, 14	Account Title			Amount
		Account Title				Amount
8	Dec 31, 14	fva - afs			Amount
							Account Title				Amount
	Security			Cost	Fair Value	Unrealized Gain (Loss)
	Evers Company			Formula
	Calculation as desired				Formula	Formula
	Rogers Company			Formula
	Calculation as desired				Formula	Formula
	Total of Portfolio			Formula	Formula	Formula
	Previous securities fair value adjustment bal.Cr.					Amount
	Securities fair value adjustmentDr.					Formula
(b) Prepare a partial balance sheet showing the Investments account at December 31, 2014, and 2015.
Partial Balance Sheet as of:			December 31, 2014		December 31, 2015
Current Assets - Dividends Receivable			Amount		Amount
Investments:
Available-for-sale securities, at fair value			Amount		Amount
Stockholders' equity:
Accumulated other comprehensive gain			Amount		Amount