Reference no: EM131764811

Question - 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:

Conn Common Stock: 200 shares cost $28,000

Ares Preferred Stock: 400 shares cost $6,000

Hall Common Stock: 300 shares cost $9,000

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 $158

Ares preferred stock $14

Hall common stock $24

A) Prepare the journal entries to record the 2014 stock transactions for feb5, mar30, sept9.

B) On December 31, 2014, show adjusting entry that might be necessary relative to the trading portfolio.

C) Show how the stock investments will appear on Stewart Corporation's balance sheet at December 31, 2014.