Reference no: EM132710558
Question - Riverbed, Inc. had the following equity investment portfolio at January 1, 2020.
Evers Company 960 shares @ $16 each $15,360
Rogers Company 910 shares @ $22 each 20,020
Chance Company 500 shares @ $9 each 4,500
Equity investments @ cost 39,880
Fair value adjustment (7,870)
Equity investments @ fair value $32,010
During 2020, the following transactions took place.
1. On March 1, Rogers Company paid a $2 per share dividend.
2. On April 30, Riverbed, Inc. sold 310 shares of Chance Company for $11 per share.
3. On May 15, Riverbed, Inc. purchased 110 more shares of Evers Company stock at $17 per share.
4. At December 31, 2020, the stocks had the following price per share values: Evers $18, Rogers $21, and Chance $8. During 2021, the following transactions took place.
5. On February 1, Riverbed, 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, 2021, the stocks had the following price per share values: Evers $20 and Rogers $23.
Required - Prepare journal entries for each of the above transactions.
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