in january 2015, the management of kord company concludes that
in january 2015, the management of kord 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.feb. 1 purchased 500 shares of day common stock for $30,800.mar. 1 purchased 600 shares of eldridge common stock for $20,300.apr. 1 purchased 40 $1,000, 9% lorenz bonds for $40,000. interest is payable semiannually on april 1 and october 1.july 1 received a cash dividend of $0.60 per share on the day common stock.aug. 1 sold 300 shares of day common stock at $69 per share.sept. 1 received a $1 per share cash dividend on the eldridge common stock.oct. 1 received the semiannual interest on the lorenz bonds.oct. 1 sold the lorenz bonds for $44,000.at december 31, the fair value of the day common stock was $66 per share. the fair value of the eldridge common stock was $29 per share.instructions(a) journalize the transactions and post to the accounts debt investments and stock investments. (post in t-account form.)(b) prepare the adjusting entry at december 31, 2015, to report the investments at fair value. all securities are considered to be trading securities.(c) show the balance sheet presentation of investments at december 31, 2015.(d) identify the income statement accounts and give the statement classification of each account.
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