Answer Happy

During the year, the following transactions occurred at
Sandberg, Inc.
Instructions
Journalize the investment transactions. The stock investments
provide less than 20% ownership interest.
Jan. 1 Purchased 40 $1,000, 5% MLB
bonds for $40,000. Interest is payable annually on January 1.
Apr 12 Purchased 600 shares of CUB
common stock for $78,000.
May. 15 Purchased 200 shares of CWS common stock for
$25,000.
Jun. 30 Received a $2.25 per share dividend on
the CUB common stock.
Sep. 15 Sold 100 shares of CWS common stock at $105
per share.
Oct 31 Received a $.75 per share
dividend on the CWS common stock.
Dec. 31 Received the annual interest on the MLB
bonds.
Dec. 31 Sold the MLB bonds for $42,500.
Dec 31 At December 31, Sandberg, Inc.
holds 600 shares of CUB common stock and 100 shares of CWS common
stock. The cost of the CUB and CWS common stocks were $130 and $125
per share, respectively. The fair value of the CUB and CWS common
stocks were $150 and $100 per share, respectively. Prepare the
adjusting entry to report the investments at fair value.