Rose Company had no short-term investments prior to this year. It had the following transactions this year involving short-term stock investments with insignificant influence. Apr. 16 Purchased 6,000 shares of Gem Co. stock at $24.00 per share. July 7 Purchased 3,000 shares of PepsiCo stock at $55.00 per share. 20 Purchased 1,500 shares of Xerox stock at $15.00 per share. Aug. 15 Received a (n) $0.95 per share cash dividend on the Gem Co. stock. 28 Sold 3,000 shares of Gem Co. stock at $30.75 per share. Oct. 1 Received a $1.60 per share cash dividend on the PepsiCo shares. Dec. 15 Received a $1.10 per share cash dividend on the remaining Gem Co. shares. 31 Received a $1.00 per share cash dividend on the PepsiCo shares. Required: 1. Prepare journal entries to record the preceding transactions and events.
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