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please find the answers. In January 2015, the management of Kinzie Company concludes that it has sufficient cash to permit some short-term investments in debt
please find the answers.
In January 2015, the management of Kinzie Company concludes that it has sufficient cash to permit some short-term investments in debt and stock securities. During the year, the following transactions occurred. Feb. 1 Purchased 800 shares of Muninger common stock for $42,400. Mar. 1 Purchased 790 shares of Tatman common stock for $18,170. Apr. 1 Purchased 40 $1,200, 9% Yoakem bonds for $48,000. Interest is payable semiannually on April 1 and October 1. July 1 Received a cash dividend of $0.50 per share on the Muninger common stock. Aug. 1 Sold 240 shaes of Muninger common stock at $62 per share. Sept. 1 Received a $2 per on the Oct. 1 Received the semiannual interest on the Yoakem bonds. x. 1 Sold the Yoakem bonds for $47,000 Oct. 1 At December 31, the fair value of the Muninger common stock was $54 per share. The fair value of the Tatman common stock was $22 per share. Journalize the transactions and post to the accounts Debt Investments and Stock Investments. (Use the T-account form.) (Round answers to O 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 for the amounts. If the ending balance is O select Dec. 31 Bal. for the date and enter 0 for the normal balance for that account.) Date Account Titles and Explanation Debit Credit Feb. 1 Mar. 1 Apr. 1 July 1 Aug. 1 Sept. 1Step by Step Solution
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