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Jan 1 Feb 1 Mar 1 In January 2022, the management of Pharoah Company concludes...

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Accounting

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Jan 1 Feb 1 Mar 1 In January 2022, the management of Pharoah Company concludes that it has sufficient cash to purchase some short-term investments in debt and stock securities. During the year, the following transactions occurred. Purchased 74 $1,000,8% TRC bonds for $74,000. Interest is payable annually on December 31. Purchased 1.135 shares of LAF common stock for $47.670. Purchased 460 shares of NC.common stock for $17.480 July Received a cash dividend of $0.80 per share on the LAF common stock Sold 206 shares of LAF common stock at 541 per share. Sept. Received $2 per share cash dividend on the NCL.common stock Received the annual interest on the TRC bonds. 31 Sold the TRC bonds for $76,810. 1 Aug 1 1 Dec 31 At December 31, the fair values of the LAF and NCL common stocks were 538 and 531 per share, respectively. These stock investments by Pharoah Company provide less than a 20% ownership interest. Show the balance sheet presentation of investment securities at December 31, 2022. Pharoah Company (Partial) Balance Sheet $

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