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homework help attached a word doc. only part B need help with. thanks show your wor year, the following transactions occurred. Feb. 1 Purchased 640
homework help attached a word doc. only part B need help with. thanks show your wor
year, the following transactions occurred. Feb. 1 Purchased 640 shares of Muninger common stock for $33,280. Mar. Purchased 850 shares of Tatman common stock for $22,100. 1 Apr. 1 Purchased 43 $1,200, 5% Yoakem bonds for $51,600. Interest is payable semiannually on April 1 and October 1. July 1 Received a cash dividend of $0.56 per share on the Muninger common stock. Aug. Sold 213 shares of Muninger common stock at $60 per share. 1 Sept. Received a $1 per share cash dividend on the Tatman common stock. 1 Oct. 1 Received the semiannual interest on the Yoakem bonds. Oct. 1 Sold the Yoakem bonds for $50,600. At December 31, the fair value of the Muninger common stock was $53 per share. The fair value of the Tatman common stock was $25 per share. (a) Your answer is partially correct. Try again. Journalize the transactions and post to the accounts Debt Investments and Stock Investments. (Use the T-account form.) (Round answers to 0 decimal places, e.g. 5,275. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. If the ending balance is 0 select Dec. 31 Bal. for the date and enter 0 for the normal balance for that account.) Dat Account Titles and e Explanation Stock Investment 33,280 Debi Credi t t Cash 33,280 Stock Investment 22,100 Cash 22,100 Debt Investments 51,600 Cash 51,600 Cash 358.4 Dividend Revenu Cash 358.4 12,780 Stock Investment 11,076 Gain on Sale of S 1,704 Cash 850 Dividend Revenu Cash Interest Revenue (To record interest) 850 2,580 2,580 Oct. 1 Cash Loss on Sale of D Debt Investments (To record sale) Stock Investments 33,280 11,076 22,100 44,304 Debt Investments 51,600 51,600 0 50,600 1,000 51,600 Show List of Accounts Show Solution Show Answer Link to Text Link to Text Link to Text Attempts: 3 of 3 used (b) Your answer is partially correct. Try again. Prepare the adjusting entry at December 31, 2017, to report the investments at fair value. All securities are considered to be trading securities. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.) Dat Account Titles and e Explanation Unrealized Loss-In Fair Value Adjustm Debi Credi t tStep by Step Solution
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