Business, 14.02.2020 05:56 kayla4352

In January 2020, the management of Ivanhoe 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 Mar. 1 Apr. 1 July 1 Aug. 1 Sept. 1 Oct. 1 Oct. 1 Purchased 700 shares of Muninger common stock for $38,500. Purchased 900 shares of Tatman common stock for $22,500. Purchased 50 $1,050, 6% Yoakem bonds for $52,500. Interest is payable semiannually on April 1 and October 1. Received a cash dividend of $0.60 per share on the Muninger common stock. Sold 233 shares of Muninger common stock at $65 per share. Received a $2 per share cash dividend on the Tatman common stock. Received the semiannual interest on the Yoakem bonds. Sold the Yoakem bonds for $51,500. 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. Journalize the transactions and post to the accounts Debt Investments and Stock Investments. (Use the T-account form.)

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In January 2020, the management of Ivanhoe Company concludes that it has sufficient cash to permit s...

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