(Equity Investments) Castleman Holdings, Inc. had the following equity investment portfolio at January 1, 2017. Evers Company 1,000 shares @ $15 each $15,000 Rogers Company 900 shares @ $20 each 18,000 Chance Company 500 shares @ $9 each 4,500 Equity investments @ cost 37,500 Fair value adjustment (7,500) Equity investments @ fair value $30,000 During 2017, the following transactions took place.1. On March 1, Rogers Company paid a $2 per share dividend.2. On April 30, Castleman Holdings, Inc. sold 300 shares of Chance Company for $11 per share.3. On May 15, Castleman Holdings, Inc. purchased 100 more shares of Evers Company stock at $16 per share.4. At December 31, 2017, the stocks had the following price per share values: Evers $17, Rogers $19, and Chance $8.During 2018, the following transactions took place.5. On February 1, Castleman Holdings, Inc. sold the remaining Chance shares for $8 per share.6. On March 1, Rogers Company paid a $2 per share dividend.7. On December 21, Evers Company declared a cash dividend of $3 per share to be paid in the next month.8. At December 31, 2018, the stocks had the following price per share values: Evers $19 and Rogers $21.Instructions(a) Prepare journal entries for each of the above transactions.(b) Prepare a partial balance sheet showing the investment-related amounts to be reported at December 31, 2017 and 2018.
(Equity Investments) Castleman Holdings, Inc. had the following equity investment portfolio at January 1, 2017.
| Evers Company | 1,000 shares @ $15 each | $15,000 |
| Rogers Company | 900 shares @ $20 each | 18,000 |
| Chance Company | 500 shares @ $9 each | 4,500 |
| Equity investments @ cost | 37,500 | |
| Fair value adjustment | (7,500) | |
| Equity investments @ fair value | $30,000 |
During 2017, the following transactions took place.
1. On March 1, Rogers Company paid a $2 per share dividend.
2. On April 30, Castleman Holdings, Inc. sold 300 shares of Chance Company for $11 per share.
3. On May 15, Castleman Holdings, Inc. purchased 100 more shares of Evers Company stock at $16 per share.
4. At December 31, 2017, the stocks had the following price per share values: Evers $17, Rogers $19, and Chance $8.
During 2018, the following transactions took place.
5. On February 1, Castleman Holdings, Inc. sold the remaining Chance shares for $8 per share.
6. On March 1, Rogers Company paid a $2 per share dividend.
7. On December 21, Evers Company declared a cash dividend of $3 per share to be paid in the next month.
8. At December 31, 2018, the stocks had the following price per share values: Evers $19 and Rogers $21.
Instructions
(a) Prepare
(b) Prepare a partial
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