Can someone please help with the ones in RED with working ? Prepare journal entries for each of the above transactions. (Credit account titles are automatically indented when amount is entered.Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)No. Account Titles and Explanation(1)(2)(3)(4)(5)cashDividend RevenueCashEquity InvestmentsGain on Sale of InvestmentsEquity InvestmentsCashFair Value AdjustmentUnrealized Holding Gain or Loss -IncomeCashLoss on Sale of InvestmentsEquity InvestmentsDebit1800310017601190170Credit1800620248017601360(6)(7)(8)CashDividend RevenueDividend ReceivableDividend RevenueFair Value AdjustmentUnrealized Holding Gain or Loss - Equity1800324018003240 Cullumber, Inc. had the following equity investment portfolio at January 1, 2020.Evers CompanyRogers CompanyChance CompanyEquity investments @costFair value adjustmentEquity investments @fair valueDuring 2020, the following transactions took place.1.2.3.4.5.970 shares @ $15 each900 shares @ $18 each480 shares @ $8 eachDuring 2021, the following transactions took place.6.7.8.$14,55016,2003,84034,590(7,220)$27,370On March 1, Rogers Company paid a $2 per share dividend.On April 30, Cullumber, Inc. sold 310 shares of Chance Company for $10 per share.On May 15, Cullumber, Inc. purchased 110 more shares of Evers Company stock at $16 per share.At December 31, 2020, the stocks had the following price per share values: Evers $17, Rogers $17, and Chance $7.On February 1, Cullumber, Inc. sold the remaining Chance shares for $7 per share.On March 1, Rogers Company paid a $2 per share dividend.On December 21, Evers Company declared a cash dividend of $3 per share to be paid in the next month.At December 31, 2021, the stocks had the following price per share values: Evers $19 and Rogers $19.(b)Your answer is partially correct.Prepare a partial balance sheet showing the investment-related amounts to be reported at December 31, 2020 and 2021.Current AssetsDividend ReceivableInvestmentsEquity InvestmentsCullumber, Inc.Balance Sheet (Partial)December 31, 20200$December 31, 20213240

Journal Entries is the primary step to record the transaction in the books of accounts. Balance…

Cullumber, Inc. had the following equity investment portfolio at January 1, 2020. 970 shares @ $15 each $14,550 16,200 900 shares @ $18 each 480 shares @ $8 each 3,840 34,590 (7.220) Evers Company Rogers Company Chance Company Equity investments@cost Fair value adjustment Equity investments @fair value During 2020, the following transactions took place. 1. On March 1, Rogers Company paid a $2 per share dividend. On April 30, Cullumber, Inc. sold 310 shares of Chance Company for $10 per share. On May 15, Cullumber, Inc. purchased 110 more shares of Evers Company stock at $16 per share. 4. At December 31, 2020, the stocks had the following price per share values: Evers $17, Rogers $17, and Chance $7. 2 3. During 2021, the following transactions took place. 5. 6. 7. $27,370 8. On February 1, Cullumber, Inc. sold the remaining Chance shares for $7 per share. On March 1, Rogers Company paid a $2 per share dividend. On December 21, Evers Company declared a cash dividend of $3 per share to be paid in the next month. At December 31, 2021, the stocks had the following price per share values: Evers $19 and Rogers $19. (b) - Your answer is partially correct. Prepare a partial balance sheet showing the investment-related amounts to be reported at December 31, 2020 and 2021. Current Assets Dividend Receivable Investments Equity Investments Cullumber, Inc. Balance Sheet (Partial) December 31, 2020 0 December 31, 2021 3240

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter10: Stockholder's Equity

Section: Chapter Questions

Problem 84PSB: Statement of Stockholders' Equity At the end of 2019, Stanley Utilities Inc. had the following...