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Problem 12-2A In January 2017, the management of Kinzie Company concludes that it has sufficient...

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Accounting

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Problem 12-2A 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 $13,800. 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 $o.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 Oct. 1 Received the semiannual interest on the Yoakem bonds 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 $22 per share

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