Roulen Co.'s portfolio of equity investments on January 1, 2018 were: Resson Co. 810 shares @...

 

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Roulen Co.'s portfolio of equity investments on January 1, 2018 were: Resson Co. 810 shares @ $62/share $50,220 Roble Co. 410 shares @ $44/share 18,040 Equity investments @ cost 68,260 Fair value adjustment 1,100 Equity investments @ fair value $69,360 During 2019, the following transactions were incurred. 1. On August 23rd, Roble Co. paid a $1.1 per share dividend. 2. On September 30th, Roulon sold all its shares of Roble for $52 per share. 3. At December 31, 2019, the market price of Resson's stock was S65 per share. Required: Prepare the following general journal entries. 1. The dividend received on the shares of Roble Co. stock on August 23, 2019. 2. The sale of the shares of Roble Co. stock on September 30, 2019. 3. The adjusting entry to recognize the equity investments at market (fair) value on December 31, 2019. Roulen Co.'s portfolio of equity investments on January 1, 2018 were: Resson Co. 810 shares @ $62/share $50,220 Roble Co. 410 shares @ $44/share 18,040 Equity investments @ cost 68,260 Fair value adjustment 1,100 Equity investments @ fair value $69,360 During 2019, the following transactions were incurred. 1. On August 23rd, Roble Co. paid a $1.1 per share dividend. 2. On September 30th, Roulon sold all its shares of Roble for $52 per share. 3. At December 31, 2019, the market price of Resson's stock was S65 per share. Required: Prepare the following general journal entries. 1. The dividend received on the shares of Roble Co. stock on August 23, 2019. 2. The sale of the shares of Roble Co. stock on September 30, 2019. 3. The adjusting entry to recognize the equity investments at market (fair) value on December 31, 2019.