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Required Information

$[$The following information applles 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 $8,000$ shares of Gem Company stock at $$21\mathrm{.}50$ per share.

July $7$ Purchased $4,000$ shares of PepsiCo stock at $$51\mathrm{.}00$ per share.

July $20$ Purchased $2,000$ shares of xerox stock at $$$16\mathrm{.}00$ per share.

August $15$ Received a $$0\mathrm{.}80$ per share cash dividend on the Gem Company stock.

August $28$ Sold $4,000$ shares of Gem Company stock at $ $$28\mathrm{.}25$ per share.

October $1$ Received a $$1\mathrm{.}60$ per share cash dividend on the Pepsico shares.

December $15$ Received a $$0\mathrm{.}95$ per share cash dividend on the remaining Gem Company shares.

December $31$ Received a $$1\mathrm{.}35$ per share cash dividend on the Pepsico shares.

The year$-$end falr values per share are Gem Company, $$23\mathrm{.}75$; PepsiCo, $$48\mathrm{.}25$; and Xerox, $$13\mathrm{.}00.$

Prepare an adjusting entry to record the year$-$end falr value adjustment for the portfolio of short$-$term stock Investments.

Journal entry worksheet

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Record the year$-$end adjusting entry for the securities portfolio.

Note: Enter debits before credits.

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