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In January 2022, the management of Blossom Company concludes that it has sufficient cash to permit some short-term investments in debt and equity securities. During

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In January 2022, the management of Blossom Company concludes that it has sufficient cash to permit some short-term investments in debt and equity securities. During the year, the following transactions occurred. Feb. 1 Purchased 700 shares of Muninger common stock for $35.000. Mar.1 Purchased 900 shares of Tatman common stock for $22,500. Agr. 1 Purchased 60 of $1,000,8% Yoakem bonds for $60,000. Interest is payable semiannually on April 1 and October 1. July 1 Received a cash dividend of 50.70 per share on the Muninger common stock. AuB-1 Sold 233shares of Muninger common stock at $65 per share. Sept. 1 Received a $2 per share cash dividend on the Tatman common stock. Ott. 1 Recelved the semiannuat interest on the Yoakem bonds. Oct.1 Sold the Yoakem bonds for $58,000. At December 31, the fair value of the Muninger and Tatmancommon stocks were $51 and $24 per share respectively. These stock investments by Blossom Company provide less than a 20% ownership interest. Prepare the adjusting entry at December 31,2022 , to report the investment securities at fair value. All securities are considered to be trading securities. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered, Do not indent monually. If no entry is required, select "No entry" for the account titles and enter O for the amounts) Show the balance sheet presentation of investment securities at December 31,2022 . Give the statement classification of each income statement account In January 2022, the management of Blossom Company concludes that it has sufficient cash to permit some short-term investments in debt and equity securities. During the year, the following transactions occurred. Feb. 1 Purchased 700 shares of Muninger common stock for $35.000. Mar.1 Purchased 900 shares of Tatman common stock for $22,500. Agr. 1 Purchased 60 of $1,000,8% Yoakem bonds for $60,000. Interest is payable semiannually on April 1 and October 1. July 1 Received a cash dividend of 50.70 per share on the Muninger common stock. AuB-1 Sold 233shares of Muninger common stock at $65 per share. Sept. 1 Received a $2 per share cash dividend on the Tatman common stock. Ott. 1 Recelved the semiannuat interest on the Yoakem bonds. Oct.1 Sold the Yoakem bonds for $58,000. At December 31, the fair value of the Muninger and Tatmancommon stocks were $51 and $24 per share respectively. These stock investments by Blossom Company provide less than a 20% ownership interest. Prepare the adjusting entry at December 31,2022 , to report the investment securities at fair value. All securities are considered to be trading securities. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered, Do not indent monually. If no entry is required, select "No entry" for the account titles and enter O for the amounts) Show the balance sheet presentation of investment securities at December 31,2022 . Give the statement classification of each income statement account

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