GL1501 (Algo) - Based on Problem 15-4A LO P4

Haven Corporation 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 5,000 shares of Kendall Company stock at $29 per share.
July 7	Purchased 3,500 shares of OnPoint Company stock at $54 per share.
July 20	Purchased 1,600 shares of Barcelona Company stock at $21 per share.
August 15	Received an $1.20 per share cash dividend on the Kendall Company stock.
August 28	Sold 3,000 shares of Kendall Company stock at $32 per share.
October 1	Received a $4.80 per share cash dividend on the OnPoint Company shares.
December 15	Received a $1.40 per share cash dividend on the remaining Kendall Company shares.
December 31	Received a $4.20 per share cash dividend on the OnPoint Company shares.

	Cost of investments at December 31:	# of Shares		Cost
	Kendall Company stock	2,000		$58,000
	OnPoint Company stock	3,500		189,000
	Barcelona Company	1,600		33,600
	Total cost			$280,600
	Fair value of investments at December 31:	# of Shares	Fair value per share	Fair Value
	Kendall Company stock	2,000	$30.00	$60,000
	OnPoint Company stock	3,500	$52.50	183,750
	Barcelona Company	1,600	$18.00	28,800
	Total fair value			$272,550
	Total unrealized gain/loss as of December 31:		$8,050	Unrealized loss
Step 1:	Determine what the unadjusted balance in the fair value adjustment equals:
Step 2:	Determine what the adjusted balance in the fair value adjustment account should equal:			Credit
Step 3:	Determine the amount of the adjustment to the fair value adjustment account required to get from Step 1 to Step 2:			Credit

Change in	Change in equity:
	Total assets	As a component of net income	As a direct component of stockholders' equity	Total change in equity
Apr. 16) Purchased 5,000 shares of Kendall Company stock at $29 per share.				$0
Jul. 7) Purchased 3,500 shares of OnPoint Company stock at $54 per share.				0
Jul. 20) Purchased 1,600 shares of Barcelona Company stock at $21 per share.				0
Aug. 15) Received an $1.20 per share cash dividend on the Kendall Company stock.	6,000			0
Aug. 28) Sold 3,000 shares of Kendall Company stock at $32 per share.				0
Oct. 1) Received a $4.80 per share cash dividend on the OnPoint Company shares.	16,800			0
Dec. 15) Received a $1.40 per share cash dividend on the remaining Kendall Company shares.	2,800			0
Dec. 31) Received a $4.20 per share cash dividend on the OnPoint Company shares.	14,700			0
Dec. 31) Adjusted the securities to year-end fair value.				0
Totals	$40,300	$0	$0	$0

On the transaction analysis tab, you indicated that total income changed by:		$0
Select the income statement account balances that prove this amount:
		0
		0
		0
Total net income