Problem 17 10 (Part Level Submission) Sheffield, Inc had the following equity investment portfolio at January 1, 2020 Evers Company 970 shares $15 each $14,550 Rogers Company 940 shares $20 each 18,800 Chance Company 520 shares $8 each 4,160 Equity investments cost 37,510 Fair value adjustment (7,790 ) Equity investments fair value $29,720 During 2020, the following transactions took place 1 On March 1, Rogers Company paid a $2 per share dividend 2 On April 30, Sheffield, Inc sold 310 shares of Chance Company for $10 per share 3 On May 15, Sheffield, Inc purchased 90 more shares of Evers Company stock at $17 per share 4 At December 31, 2020, the stocks had the following price per share values Evers $18, Rogers $19, and Chance $7 During 2021, the following transactions took place 5 On February 1, Sheffield, Inc sold the remaining Chance shares for $7 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, 2021, the stocks had the following price per share values Evers $20 and Rogers $21 Your answer is partially correct Try again Prepare journal entries for each of the above transactions (Credit account titles are automatical ly 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 ) SENIORS Twitter TOPIC O3 PLNT No Amount Titles and Explanation Debet Credit Suomi) (1) Cash 1,880 Submission 12 10 COM Dividend Revenue 1,880 (Cash 3,100 Gain on Sale of Investn 620 em 17 10 Part Equity Investments 2,480 Score Results by Study cal Equity Investments 1 530 Cash 1,530 (Fair Value Adjustment Unrealized Holding Gain or (57 Cash 1,530 Loss on Sale of Investmen 310 Equity Investments 2,480 (67 Cash 1,880 Dividend Revenue 1,880 (77 TDividend Receivable 3,100 Dividend Revenue 3,100 (8) Fair Value Adjustment Unrealized Holding Gain or SHOW LIST OF ACCOUNTS

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Problem 17-10 (Part Level Submission) Sheffield, Inc. had the following equity investment portfolio at January 1, 2020. Evers Company 970 shares @ $15 each $14,550

Problem 17-10 (Part Level Submission)

Sheffield, Inc. had the following equity investment portfolio at January 1, 2020.

Evers Company	970 shares @ $15 each	$14,550
Rogers Company	940 shares @ $20 each	18,800
Chance Company	520 shares @ $8 each	4,160
Equity investments @ cost		37,510
Fair value adjustment		(7,790	)
Equity investments @ fair value		$29,720

During 2020, the following transactions took place.

1.		On March 1, Rogers Company paid a $2 per share dividend.
2.		On April 30, Sheffield, Inc. sold 310 shares of Chance Company for $10 per share.
3.		On May 15, Sheffield, Inc. purchased 90 more shares of Evers Company stock at $17 per share.
4.		At December 31, 2020, the stocks had the following price per share values: Evers $18, Rogers $19, and Chance $7.

During 2021, the following transactions took place.

5.		On February 1, Sheffield, Inc. sold the remaining Chance shares for $7 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, 2021, the stocks had the following price per share values: Evers $20 and Rogers $21.


	Your answer is partially correct. Try again.

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.)

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SENIORS Twitter TOPIC O3 PLNT No. Amount Titles and Explanation Debet Credit Suomi) (1) Cash 1,880 Submission 12.10.COM Dividend Revenue 1,880 (Cash 3,100 Gain on Sale of Investn 620 em 17-10 Part Equity Investments 2,480 Score Results by Study cal Equity Investments 1.530 Cash 1,530 (Fair Value Adjustment Unrealized Holding Gain or (57 Cash 1,530 Loss on Sale of Investmen 310 Equity Investments 2,480 (67 Cash 1,880 Dividend Revenue 1,880 (77 TDividend Receivable 3,100 Dividend Revenue 3,100 (8) Fair Value Adjustment Unrealized Holding Gain or SHOW LIST OF ACCOUNTS