Required Information Problem 15-4A (Algo) 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 6,000 shares of Gem Company stock at $28.25 per share. July 7 Purchased 3,000. ahares of Depaica stock at $49.00 per share. July 20 Purchased 1,500 shares of Xerox stock at $17.00 per share. August 15 Received a $0.90 per share cash dividend on the dem Company stock. August 28 sold 3,000 shares of Gem Company stock at $35.00 per sbare! October 1 Received a $1.80 per share cash dividend on the Pepaico ahares. December 15 Received a $1.05 per share cash dividend on the remaining Com Company shares. December 31 Received a $1.10 per share cash dividend on the PepsiCo shares. The year-end fair values per share are Gem Company, $30.50; PepsiCo, $46.25; and Xerox, $14.00. Problem 15-4A (Algo) Part 4 4. Prepare the current asset section of the balance sheet for the fair value adjustment for Rose's short-term investments. (Amounts to be deducted should be entered with a minus sign.) Current Assets Stock investments (as cost) Fair value adjustment Stock Stock investments (ait fair value) 1. Prepare journal entries to record the preceding transactions and events. View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 > Purchased 6,000 shares of Gem Company stock at $28.25 per share. Note: Enter debits before credits Date General Journal Debit Credit Apr 16 View general Journal Record entry Clear entry Comparison of Cost and Fair Values for Stock Investments Portfolio at Year-End Unrealized Cost Fair Value Amount Gem Co. PepsiCo Xerox Total 0 $ 0 $