Required information The following information applies to the questions displayed below Rose Company had no short-term investments prior to year 2017. It had the following transactions involving short-term investments in available-for-sale securities during 2017 Apr. 16 Purchased 6,000 shares of Gem Co. stock at $23.00 per share plus a $320 brokerage fee May 1 Paid $150,000 to buy 3-month U. S. Treasury bills (debt securities) : $150,000 principal amount, 4% interest, securities mature on July 31. July 7 Purchased 3,000 shares of PepsiCo stock at $46.00 per share plus a $290 brokerage fee 20 Purchased 1,500 shares of Xerox stock at $20.00 per share plus a $370 brokerage fee Aug. 1 Received a check for principal and accrued interest on the U.S. Treasury bills that matured on July 31 15 Received an $.80 per share cash dividend on the Gem Co. stock. 28 Sold 3,000 shares of Gem Co. stock at $29.75 per share less a $410 brokerage fee Oct. 1Received a $1.80 per share cash dividend on the PepsiCo shares. Dec. 15 Received a $.95 per share cash dividend on the remaining Gem Co. shares. 31 Received a $1.05 per share cash dividend on the PepsiCo shares. Requirec 1. Prepare journal entries to record the preceding transactions and events. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Required information The following information applies to the questions displayed below Rose Company had no short-term investments prior to year 2017. It had the following transactions involving short-term investments in available-for-sale securities during 2017 Apr. 16 Purchased 6,000 shares of Gem Co. stock at $23.00 per share plus a $320 brokerage fee May 1 Paid $150,000 to buy 3-month U.S. Treasury bills (debt securities): $150,000 principal amount, 4% interest, gecuritie3 mature on uly 31. July 7 Purchased 3,000 shares of PepsiCo stock at $46.00 per share plus a $290 brokerage fee 20 Purchased 1,500 shares of Xerox stock at $20.00 per share plus a $370 brokerage fee Aug 1 Received a check for principal and accrued interest on the U.S. Treasury bills that matured on July 31 15 Received an $.80 per share cash dividend on the Gem Co. stock. 28 Sold 3,000 shares of Gem Co. stock at $29.75 per share less a $410 brokerage fee Oct. 1Received a $1.80 per share cash dividend on the PepsiCo shares Dec. 15 Received a $.95 per share cash dividend on the remaining Gem Co. shares. 31 Received a $1.05 per share cash dividend on the PepsiCo shares. 2. Prepare a table to compare the year-end cost and fair values of Rose's short-term investments in available-for-sale securities. The year-end fair values per share are: Gem Co., $25.25; PepsiCo, $43.25; and Xerox, $17.00 Comparison of Cost and Fair Values for AFS Portfolio Fair Value Unrealized Amount Cost Gem Co Pepsi Co Total Required information The following information applies to the questions displayed below] Rose Company had no short-term investments prior to year 2017. It had the following transactions involving short-term investments in available-for-sale securities during 2017. Apr. 16 Purchased 6,000 shares of Gem Co. stock at $23.00 per share plus a $320 brokerage fee. May 1 Paid $150,000 to buy 3-month U.S. Treasury bills (debt securities) : $150,000 principal amount, interest, securities mature on July 31. July 7 Purchased 3,000 shares of PepsiCo stock at $46.00 per share plus a $290 brokerage fee 20 Purchased 1,500 shares of Xerox stock at $20.00 per share plus a $370 brokerage fee Aug. 1 Received a check for principal and accrued interest on the U.S. Treasury bills that matured on July 1. 15 Received an $.80 per share cash dividend on the Gem Co. stock. 28 Sold 3,000 shares of Gem Co. stock at $29.75 per share less a $410 brokerage fee Oct. 1Received a $1.80 per share cash dividend on the PepsiCo shares. Dec. 15 Received a $.95 per share cash dividend on the remaining Gem C shares. 31 Received a $1.05 per share cash dividend on the PepsiCo shares. 3. Prepare an adjusting entry, if necessary, to record the year-end fair value adjustment for the portfolio of short-term investments in available-for-sale securities. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
