Principle of accounting 2 - chapter 15

before i take the accounting test, i need to check my answer, but my professor didn't give the answer key.

Thank you for helping me

CHAPTER 15 CLASS ASSIGNMENT Campus Corporation had the following investment transactions: Jan. 1 Feb. 15 Mar. 31 June 1 Purchased 500 shares of Adams Co. stock at $20 per share plus a $500 brokerage fee. This purchase is considered a short-term investment in trading securities by Campus Corporation. Purchased 1,000 shares of Eden, Inc. for $35,000 cash. This purchase is considered a long- term available-for-sale (AFS) investment by Campus Corporation. Received cash dividend of $0.30 per share from Eden, Inc. Purchased 5,000 shares of Lonestar, Inc. for $35 per share plus $5,000 in fees and commissions. These shares represent a 40% ownership in Lonestar, Inc. Received Lonestar, Inc. cash dividend of $4 per share. At Dec. 31, the Adams Co. stock had a fair (market value of $12,500. At Dec. 31, the Eden, Inc. stock had a fair (market) value of $25 per share. Lonestar, Inc. reported net income of $150,000 for the year. Sept. 30 Dec. 31 Dec. 31 Dec. 31 Prepare the journal entries Campus Corporation should record for these transactions and events Assume that Campus Corporation (from Problem 1 above) sold 2,500 shares of its Lonestar, Inc. stock for $50 per share on January 15 of the following year. Prepare the journal entry to record the sale of these shares