Additional Exercise 165 Stewart Corporation's balance sheet at December 31, 2013, showed the following Short-term investments, at fair value $46,500 Stewart Corporation's trading portfolio of stock investments consisted of the following at December 31, 2013 Number of Stock Shares 200 400 300 Cost Conn Common Stock Ares Preferred Stock Hall Common Stock $28,000 6,000 9,000 $43,000 During 2014, the following transactions took place: Feb. 5 Sold 100 shares of Conn common stock for $18,000 Mar. 30 Purchased 25 shares of Hall common stock for $1,000 Sept. 9 Purchased 50 shares of Hall common stock for $3,000 At year end on December 31, 2014, the fair values per share were: Conn Common Stock Ares Preferred Stock Hall Common Stock Fair Value Per Share $158.00 $ 14.00 24.00 Prepare the journal entries to record the 2014 stock transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Feb. 5 Mar. 30 Sept. 9 On December 31, 2014, prepare any adjusting entry that might be necessary relative to the trading portfolio. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Show how the stock investments will appear on Stewart Corporation's balance sheet at December 31, 2014 Stock Investments Additional Exercise 165 Stewart Corporation's balance sheet at December 31, 2013, showed the following Short-term investments, at fair value $46,500 Stewart Corporation's trading portfolio of stock investments consisted of the following at December 31, 2013 Number of Stock Shares 200 400 300 Cost Conn Common Stock Ares Preferred Stock Hall Common Stock $28,000 6,000 9,000 $43,000 During 2014, the following transactions took place: Feb. 5 Sold 100 shares of Conn common stock for $18,000 Mar. 30 Purchased 25 shares of Hall common stock for $1,000 Sept. 9 Purchased 50 shares of Hall common stock for $3,000 At year end on December 31, 2014, the fair values per share were: Conn Common Stock Ares Preferred Stock Hall Common Stock Fair Value Per Share $158.00 $ 14.00 24.00 Prepare the journal entries to record the 2014 stock transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Feb. 5 Mar. 30 Sept. 9 On December 31, 2014, prepare any adjusting entry that might be necessary relative to the trading portfolio. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Show how the stock investments will appear on Stewart Corporation's balance sheet at December 31, 2014 Stock Investments