GL1501 (Algo) - Based on Problem 15-4A LO P4 JCW 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 Parchesed 5,500 shares of Barcelona Company stock at $25 per share. July 7 Purchased 4,000 shares of Lafayette Company stock at $50 per shared Tuly 20 Purchased 1,000 shares of Fields Company stock at $17 per share. August 15 Received an 11.30 per share cash dividend on the barcelona Company stock. August 25 Sold 2,300 shares of Sarcelona Company stock at $28 per share October 1 Received a 52.90 per share cash dividend on the Lafayette Company shares December 15 Received a $1.60 per share cash dividend on the remaining Barcelona company shares. December 31 Received $2.50 per share cash dividend on the Lafayette Company Shares. Requirement General General Trial Balance Fair Value Add Transaction Journal Fin stimat Ledom Analysis Prepare journal entries to record each of the transactions and events. Prepare the year and adjustment to fair value, if any. View transactions Journal entry worksheet + 2 3 4 5 6 7 8 Purchased 5,500 shares of Barcelona Company stock at 525 per share Requirement General Journal General Ledger Trial Balance Fair Value Adi Transaction Analysis Fin St Impact The year-end fair values per share are: Barcelona Company, $26.00; Lafayette Company, S48.50, and Fields Company, $14.00 Calculate the total cost and total fair value of the available-for-sale portfolio as of December 31, and calculate the amount of the required year-end adjusting entry, if any. # of Shares Cost Cost of investments at December 31: Barcelona Company stock Lafayette Company stock Flolds Company Total cost Fair value of Investments at December 313 # of Shares Fair value per share Fair Value Barcelona Company stock Lafayette Company stock Fields Company Total fair value Total unrealized gain/loss as of December 31: Step 1 Step 2 Determine what the unadjusted balance in the fair value adjustment equals Determine what the adjusted balance in the fair value adjustment account should equal Determine the amount of the adjustment to the fair value adjustment account required to get from Step 1 to Step 2 Step 3 Requirement General Journal General Ledger Trial Balance Fair Value Adj Transaction Analysis Fin St Impact For each transaction. Indicate the change, if any, in total assets and total equity. If equity changes, indicate whether the change was reflected as a component of net income, or directly within the stockholders' equity portion of the balance sheet. Remember that the change in total assets must agree with the change in total equity. Show less Change in Total assets Change in equity As a direct Asa component of Total change component of stockholders in equity net income equity $ 0 Ap 16) Purchased 5 500 shares of Barcelona Company stock at $25 para Dal Purchased 4 000 shares of Lafayette Company stock $50 per 0 0 0 0 Ml. 20) Purchased 1,800 shares of Fields Conpany stock at $17 per he Aug. 15) Received an $1.30 per share cash dividend on the Barcelona Company Stock Aug 23) Sold 3.300 shares of Barcelona Company stock at 528 per share Oct 1) Received a 52 90 per share cash dividend on the Lafayetta Company shares Dec 15) Received a $150 per share cash dividend on the remaining Barcelona Company Shares Dec 31) Received a 12.30 per share cash dividend on the Latayette Company shares Dec 31). Adjusted the securities to year and for value Totals 0 O 0 0 Requirement General Journal General Ledger Trial Balance Fair Value Adi Transaction Analysis Fin St Impact Prove the accuracy of your responses on the Transaction Analysis tab by selecting the account titles reported on the income statement or as a component of stockholders' equity. On the transaction analysis tab. you indicated that total income changed by Select the income statement account balances that prove this amount 0 0 0 Total net income