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PART B please !! In January 2022, the management of Blossom Company concludes that it has sufficient cash to permit some short-term investments in debt
PART B please !! 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. Apr. 1 Purchased 60 of $1,000,8% Yoakem bonds for $60,000. Interest is payable semiannually on April 1 and October 1. July 1 Recelved a cash dividend of $0.70 per share on the Muninger common stock Aug. 1 Sold 233 shares of Muninger common stockat $65 per share. Sept 1 Received a $2 per share cash dividend on the Tatman common stock. Oct: 1 Received the semiannual interest on the Yoakem bonds. Oct. 1 Sold the Yoakem bonds for $58,000. At December 31 , the fair value of the Muninger and Tatman common stocle were $51 and $24 per share respectively. These stock investents by Blossom Compamy provide less than a 20O ownership interest. Journalize the transactions and post to the accounts Debt Investments and Stock Investments. (Use the T-account form) (Record journal entries in the order presented in the problem. List all debit entries before credit entries. 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.) sept1 Divhebd Resintive (To record the receipt of semiannual interest on Yoakem bonds) ort, 1 : Stock Investments Aeb.1 Fey Mar.1 (Aug.1 Debt Investments 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 manually. If no entry is required, select "No entry" for the account tities and enter o for the amounts.)
PART B please !!
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