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Carlsville Company began operations in the current year and had no prior stock investments. The...

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Accounting

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Carlsville Company began operations in the current year and had no prior stock investments. The following transactions are from its short-term stock investments with insignificant influence. Prepare journal entries to record these transactions. On December 31 , prepare the adjusting entry to record the fair value adjustment for the portfolio of stock investments. July 22 Purehased 1,700 shares of litunt Corporation at $24 per nhare. September 5 Received a $2 cash dividend for each share of Hunt corporation. Sopteaber 27 Purchasod 3,500 ohares of HCA at $22 per uhare. October. 3 Sold 1,700 shares of Hunt at $19 per share. Oetober 30 Purchased 1,100 shares of Black \& Decker at $40 per share. Decenber 17 Recelved a $3 caeh dividend for each share of Black 6 Decker. December 31 Pair value of the short-term stock investments is $125,000. Journal entry worksheet 234567 Purchased 1,700 shares of Hunt Corporation at $24 per share. Note: Enter debits before credits

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