Problem 17-10 (Part Level Submission)

Marigold, Inc. had the following equity investment portfolio at January 1, 2017.

Evers Company		950 shares @ $14 each		$13,300
Rogers Company		900 shares @ $20 each		18,000
Chance Company		480 shares @ $10 each		4,800
Equity investments @ cost				36,100
Fair value adjustment				(7,260	)
Equity investments @ fair value				$28,840

During 2017, the following transactions took place.

1.		On March 1, Rogers Company paid a $2 per share dividend.
2.		On April 30, Marigold, Inc. sold 310 shares of Chance Company for $12 per share.
3.		On May 15, Marigold, Inc. purchased 90 more shares of Evers Company stock at $15 per share.
4.		At December 31, 2017, the stocks had the following price per share values: Evers $16, Rogers $19, and Chance $9.

During 2018, the following transactions took place.

5.

On February 1, Marigold, Inc. sold the remaining Chance shares for $9 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.

At December 31, 2018, the stocks had the following price per share values: Evers $18 and Rogers $21.

(a)

Prepare journal entries for each of the above transactions. (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.)

No.	Account Titles and Explanation	Debit	Credit
(1)	Cash	18000
	Dividend Revenue		18000
(2)	Cash	3720
	Gain on Sale of Investments		620
	Equity Investments		3100
(3)	Equity Investments	1350
	Cash		1350
(4)	Fair Value Adjustment
	Unrealized Holding Gain or Loss - Equity
(5)	Cash
	Loss on Sale of Investments
	Equity Investments
(6)	Cash
	Dividend Revenue
(7)	Dividend Receivable
	Dividend Revenue
(8)	Fair Value Adjustment
	Unrealized Holding Gain or Loss - Equity