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 $23.50 per share. July Purchased 3,000 shares of PepsiCo stock at $51.00 per share. July 20 Purchased 1,500 shares of Xerox stock at $19.00 per share. August 15 Received a $0.80 per share cash dividend on the Gem Company stock. August 28 Sold 3,000 shares of Gem Company stock at $30.25 per share. October 1 Received a $1.80 per share cash dividend on the PepsiCo shares. December 15 Received a $0.95 per share cash dividend on the remaining Gem Company shares. December 31 Received a $1.20 per share cash dividend on the PepsiCo shares. The year-end fair values per share are Gem Company, $25.75; PepsiCo, $48.25; and Xerox, $16.00. 3. Prepare an adjusting entry to record the year-end fair value adjustment for the portfolio of short-term stock investments. View transaction list Journal entry worksheet Record the year-end adjusting entry for the securities portfolio. Note: Enter debits before credits. Date General Journal Debit Credit December 31 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. April 16 Purchased 6,000 shares of Gem Company stock at $23.50 per share. July 7 Purchased 3,000 shares of PepsiCo stock at $51.00 per share. July 20 Purchased 1,500 shares of Xerox stock at $19.00 per share. August 15 Received a $0.80 per share cash dividend on the Gem Company stock. August 28 Sold 3,000 shares of Gem Company stock at $30.25 per share. October 1 Received a $1.80 per share cash dividend on the PepsiCo shares. December 15 Received a $0.95 per share cash dividend on the remaining Gem Company shares. December 31 Received a $1.20 per share cash dividend on the PepsiCo shares. The year-end fair values per share are Gem Company, $25.75; PepsiCo, $48.25; and Xerox, $16.00. 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 (at fair value) 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. April 16 Purchased 6,000 shares of Gem Company stock at $23.50 per share. July 7 Purchased 3,000 shares of PepsiCo stock at $51.00 per share. July 20 Purchased 1,500 shares of Xerox stock at $19.00 per share. August 15 Received a $0.80 per share cash dividend on the Gem Company stock. August 28 Sold 3,000 shares of Gem Company stock at $30.25 per share. October 1 Received a $1.80 per share cash dividend on the PepsiCo shares. December 15 Received a $0.95 per share cash dividend on the remaining Gem Company shares. December 31 Received a $1.20 per share cash dividend on the PepsiCo shares. The year-end fair values per share are Gem Company, $25.75; PepsiCo, $48.25; and Xerox, $16.00. 5. Identify the dollar increase or decrease from Rose's short-term stock investments on (a) its income statement for this year and (b) the equity section of its balance sheet at this year-end. (a) Income statement for this year (b) The equity section of its balance sheet at this year-end