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In January 2022the management of Northern Company concludes that it has sufficient cash to purchase some short-term in debt and stock securitiesDuring the year, the
In January 2022the management of Northern Company concludes that it has sufficient cash to purchase some short-term in debt and stock securitiesDuring the year, the following transactions occurred 1 Purchased 70 $1,000, % TRC bonds for $70,000 Interest is payable annually on December 31 Purchased shares of LAF common stock for $51,600 Mar 1 Purchased 500 shares of NCL common stock for $18,500 July 1 Received a cash dividend of $0.80 per share on the LAF common stock Aug 1 Sold 200 shares of LAF common stock at 42 per share Received $2 per share cash dividend on the NCL common stock Dec. 31 Received the annual interest on the TRC bonds 31 Sold the TRC bonds for $75,700 At December 31, the fair values of the LAF and NCL common stocks were $39 and $30 per share, respectively These stock investments by Company provide less than a 20% ownership interest
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