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(b) Prepare the adjusting entry at December 31, 2021, to show the securities at fair value. (Credit account titles are automatically indented when amount is entered DU JUL indent manually. If ne entry is required select "No entry for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31 Question 13 On December 31, 2020, Wildhorse Associates owned the following securities, held tong-term investment. The securities are not held for inance or control of the investee Common Stock Shares Cost Gehring Co. 1,900 $57,000 Wooderson Co. 4.800 43,200 Kitselton Co. 1,400 20,800 On December 31, 2020, the total fair value of the securities was equal to its cost in 2021. the fofowite transaction occurred AUD 1 Received 50.50 Dershare cash dividend on Geng Cocoon stock Sold 1.440 shares of Wooderton Co. Como Mock for cash ata per Oct 1 Sold 760 shares of Gehring Co. common stock for cats $2 per share, hov 1 Received per share cash dividend on ton cor common stock Dec. 15 Received $0.50 Dershare cash dividend on ehrlaco common stock Dec. 31 Received 51 per share annual cash dividend on Wonderson Coconumos tock At December 21, the tair values per share of the common stock were derno ca 537. Wooderon consondelton to $20 (A) Your answer is correct Journal the 2021 transactions and post to the account Stock Investments (Use the account for credit account titles are automatically indented when cofern. Do not inden vially. If no entry is require selecto entry for the account cities and enter for the amounts record journal entries in the order presented in the problem.) Date Debit Credit Account Titles and Explanation Aug. 1 Cash 950 Dividend Revenue 950 Sept. 1 Cash 11520 Loss on Sale of Stock Investments 1440 Stock Investments 12960 Oct Cash 25080 Stock Investments 22800 Gain on Sale of Stock Investments 2280 Nov. Cash 1400 Dividend Revenue 1400 Dec 15 cash 570 Dividend Revenue 570 Dac Cash 3360 3360 Dividend Revenue 0 1 search hp CES Dec. 317 Cash 3360 Dividend Revenue 3360 Stock Investments Jan, 1 Ball 131000|||Sept. 12960 Oct. 1 22800 Dec. 31 Bal 95240

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