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 700 shares of Muninger common stock for $38,500 Mar 1 Purchased 900 shares of Tatman common stock for $22,500 Apr 1 Purchased 40 $1,140, 8 Yoakem bonds for $45,600 Interest is payable semiannually on April 1 and October 1 July 1 Received a cash dividend of $0 70 per share on the Muninger common stock Aug 1 Sold 233 shares of Muninger common stock at $65 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 $44,600 At December 31, the fair value of the Muninger common stock was $56 per share The fair value of the Tatman common stock was $24 per share Your answer is partially correct Try again 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 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 Round answers to 0 decimal places, e g 5,275 ) Date Account Titles and Explanation Debit Credit Feb 1Mar 1Apr 1July 1Aug 1Sept 1Oct 1Dec 31 Feb 1Mar 1Apr 1July 1Aug 1Sept 1Oct 1Dec 31 Feb 1Mar 1Apr 1July 1Aug 1Sept 1Oct 1Dec 31 Feb 1Mar 1Apr 1July 1Aug 1Sept 1Oct 1Dec 31 Feb 1Mar 1Apr 1July 1Aug 1Sept 1Oct 1Dec 31 Feb 1Mar 1Apr 1July 1Aug 1Sept 1Oct 1Dec 31 Feb 1Mar 1Apr 1July 1Aug 1Sept 1Oct 1Dec 31 (To record the receipt of semiannual interest on Yoakem bonds) Oct 1 (To record the sale of Yoakem bonds)

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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

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 700 shares of Muninger common stock for $38,500.
Mar. 1		Purchased 900 shares of Tatman common stock for $22,500.
Apr. 1		Purchased 40 $1,140, 8% Yoakem bonds for $45,600. Interest is payable semiannually on April 1 and October 1.
July 1		Received a cash dividend of $0.70 per share on the Muninger common stock.
Aug. 1		Sold 233 shares of Muninger common stock at $65 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 $44,600.

At December 31, the fair value of the Muninger common stock was $56 per share. The fair value of the Tatman common stock was $24 per share.


	Your answer is partially correct. Try again.

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. 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. Round answers to 0 decimal places, e.g. 5,275.)

Date	Account Titles and Explanation	Debit	Credit
Feb. 1Mar. 1Apr. 1July 1Aug. 1Sept. 1Oct. 1Dec. 31

Feb. 1Mar. 1Apr. 1July 1Aug. 1Sept. 1Oct. 1Dec. 31

Feb. 1Mar. 1Apr. 1July 1Aug. 1Sept. 1Oct. 1Dec. 31

Feb. 1Mar. 1Apr. 1July 1Aug. 1Sept. 1Oct. 1Dec. 31

Feb. 1Mar. 1Apr. 1July 1Aug. 1Sept. 1Oct. 1Dec. 31


Feb. 1Mar. 1Apr. 1July 1Aug. 1Sept. 1Oct. 1Dec. 31

Feb. 1Mar. 1Apr. 1July 1Aug. 1Sept. 1Oct. 1Dec. 31

	(To record the receipt of semiannual interest on Yoakem bonds)
Oct. 1


	(To record the sale of Yoakem bonds)