Problem 12-3A (Part Level Submission)

On December 31, 2015, Turnball Associates owned the following securities, held as a long-term investment. The securities are not held for influence or control of the investee.

Problem 12-3A (Part Level Submission) On December 31, 2015, Turnball Associates owned the following securities, held as a long-term investment. The securities are not held for influence or control of the investee Common Sto Gehring Co. Wooderson Co. Kitselton Co. ares os 2,200 4,890 1,640 $63,800 34,230 31,160 On December 31, 2015, the total fair value of the securities was equal to its cost. In 2016, the following transactions occurred July 1 Aug. 1 Sept. 1 Oct. 1 Nov. 1 Dec. 15 Dec. 31 Received $1 per share semiannual cash dividend on Wooderson Co. common stock. Received $0.50 per share cash dividend on Gehring Co. common stock. Sold 1,467 shares of Wooderson Co. common stock for cash at $6 per share Sold 880 shares of Gehring Co. common stock for cash at $32 per share Received $1 per share cash dividend on Kitselton Co. common stock. Received $0.50 per share cash dividend on Gehring Co. common stock. Received $1 per share semiannual cash dividend on Wooderson Co. common stock. At December 31, the fair values per share of the common stocks were: Gehring Co. $31, Wooderson Co. $6, and kitselton Co-$17 (a) Journalize the 2016 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.) Date Account Titles and Explanation July 1 Debit Credit Aug. 1 Sept. 1 Oct. 1 Nov. 1 Dec. 15 Dec. 31 SHOW LIST OF ACCOUNTS LINK TO TEXT VIDEO: SIMILAR