Problem 16-2A

In January 2017, 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 400 shares of Muninger common stock for $20,000.
Mar. 1		Purchased 600 shares of Tatman common stock for $15,000.
Apr. 1		Purchased 30 $1,000, 5% Yoakem bonds for $30,000. 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 133 shares of Muninger common stock at $60 per share.
Sept. 1		Received a $1 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 $29,000.

At December 31, the fair value of the Muninger common stock was $51 per share. The fair value of the Tatman common stock was $24 per share.

Journalize the transactions, adjusting entry and balance sheet (partial)