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 shortterm stock investments with insignificant influence. April 16 Purchaned 3,500 shares of Gen Conpany stock at $24 per share. July 7 Purchased 2,000 shares of pepsico stoek at $49 per share. July 20 Purchased 1,000 shares of Xerox atoek at $16 per share. August 15 heceived a $1.00 per share cash dividend on the Cem Conpany stock. August 28 sold 2,000 shares of cen Conpany stock at $30 per share. october 1 received a $2.50 per share cash dividend on the pepaico shares. Decenber 15 Received a $1.00 per share cash dividend on the renaining Gem Conpany shares. December 31 Received a $1.50 per share cash dividend on the Pepsico shares. The year-end falr values per share are Gem Company, \$26: PepsiCo, $46; and Xerox, $13. Required: 1. Prepare journal entries to record the preceding transactions and events. (Do not round your intermediate calculations.) Journal entry worksheet 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 shortterm stock investments with insignificant influence. April 16 Purchased 3,500 shares of Gem Company stock at $24 per share. July 7 Purehased 2,000 shares of Pepsico stock at $49 per share. July 20 Purchased 1,000 shares of Xerox stock at $16 per share. August 15 Received a $1.00 per share cash dividend on the Gen Company stock. August 28 sold 2,000 shares of Gem Company stock at $30 per share. october 1 Received a $2.50 per ahare cash dividend on the Pepsico ahares. December 15 Received a $1.00 per share cash dividend on the remaining Gem Company shares. December 31 Received a $1.50 per share cash dividend on the Pepsico shares. The year-end fair values per share are Gem Company, \$26; PepsiCo, $46; and Xerox, $13. 2. Prepare a table to compare the year-end cost and fair values of Rose's short-term stock investments. 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 shortterm stock investments with insignificant influence. Apri1 16 Purchased 3,500 shares of Gem Company stock at $24 per share. July 7 Purchased 2,000 shares of Pepsico stock at $49 per share. July 20 Purchased 1,000 shares of Xerox atock at $16 per share. Auqust 15 Received a $1.00 per share cash dividend on the Gen Conpany stock. August 28 sold 2,000 shares of Cem Conpany stock at $30 per share. october I received a $2.50 per ahare cash dividend on the Pepaico shares. December 15 Received a $1.00 per share cash dividend on the remaining Gem Company shares. December 31 Received a $1.50 per share cash dividend on the Pepsico thares. The year-end fair values per share are Gem Company, $26; PepsiCo, $46; and Xerox, $13. B. Prepare an adjusting entry to record the year-end fair value adjustment for the portfolio of short-term stock investments
