Required Information [The following Information applies to the questions displayed below.] Stoll Co.'s long-term available-for-sale portfolio at the start of this year consists of the following. Available-for-Sale Securities Company A bonds Company B notes Company C bonds Cost Fair Value $534,900 159,290 662,500 $492,000 145,000 641,740 Stoll enters into the following transactions Involving its available-for-sale debt securities this year. Jan. 29 Sold one-half of the Company B notes for $78,130. July 6 Purchased bonds of Company X for $125,100. Nov. 13 Purchased notes of Company Z for $268,000. Dec. 9 Sold all of the bonds of Company A for $515,300. The fair values at December 31 are B. $80,300; C, $606,800; X, $101,000; and Z. $271,000. 3. What amount of gains or losses on transactions relating to long-term Investments in available-for-sale debt securities does Stoll report on its Income statement for this year? Loss 26,745 Required Information [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. Apr. 16 Purchased 8,000 shares of Gen Co. stock at $20.00 per share. July 7 Purchased 4,000 shares of PepsiCo stock at $52.00 per share. 20 Purchased 2,000 shares of Xerox stock at $17.00 per share. Aug. 15 Received a(n) $0.90 per share cash dividend on the Gem Co. stock. 28 Sold 4,000 shares of Gen Co. stock at $26.75 per share. Oct. 1 Received a $1.80 per share cash dividend on the PepsiCo shares. Dec. 15 Received a $1.05 per share cash dividend on the remaining Gem Co. shares. 31 Received a $1.35 per share cash dividend on the PepsiCo shares. Required: 1. Prepare journal entries to record the preceding transactions and events. No Date General Journal 1 Apr. 16 Fair value adjustment - AFS Cash Debit Credit 160,000 160,000 2 Jul. 7 Stock investments 208,000 Cash 208,000 3 Jul. 20 Debt investments -AFS * 34,000 Cash 34,000 4 Aug. 15 Cash Dividend revenue > > 7,200 7,200 5 Aug. 28 Cash 0 107,000 Debt investments -AFS * Gain on sale of stock investments 80,000 27,000 8 Oct. 1 Cash Dividend revenue > > 7,200 7,200- 7 Dec. 15 Cash 4,200 Dividend revenue 4,200 8 Dec. 31 Cash Dividend revenue 5,400 5,400