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please help with this accounting problem Required information Problem 15-4A (Static) Recording, adjusting, and reporting stock investments with insignificant influence LO P4 (The following information
please help with this accounting problem
Required information Problem 15-4A (Static) Recording, adjusting, and reporting stock investments with insignificant influence LO P4 (The following information applies to the questions displayed below) Rose Company had no short-term investments prior to this year. It had the following transactions this year involving short-term stock investments with insignificant influence. April 16 Purchased 3,500 shares of Gem Company stock at $24 per share. July 7 Purchased 2,000 shares of PepsiCo stock at $19 per share. July 20 Purchased 1,000 shares of Xerox stock at $10 per share. August 15 Received a $1.00 per share cash dividend on the Gem Company stock. August 28 Sold 2,000 shares of Gen Company stock at $30 per share. October 1 Received a $2.50 per share cash dividend on the PepsiCo shares. December 15 Received a $1.00 per share cash dividend on the remaining Gen Company shares. December 31 Received a $1.50 per share cash dividend on the PepsiCo shares. The year-end fair values per share are Gem Company $26, PepsiCo $46, and Xerox $13 Problem 15-4A (Static) Part 3 3. Prepare an adjusting entry to record the year-end fair value adjustment for the portfolio of short-term stock investments 15 View transaction list Journal entry worksheet Record the year-end adjusting entry for the securities portfolio cs Note: Enter debits before credits General Journal Debit Credit Date December 31 Step by Step Solution
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