PART C

ANSWER PART C THATS THE MAIN QUESTION

Show the balance sheet presentation of investment securities at December 31,2022 . Prepare the adjusing entry at December 31, 2022, to report the investment securities at fair value. All securities are considered to be trading securities. (List all debit entries before credit entries. Credit account tities 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 O for the amounts.) Stock Investments 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. List all debit entries before credit entries. 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 O for the amounts.) (To record the receipt of semiannuat interest on) Yoakem bonds) (To record the sale of Yoakem bonds) In January 2022, the management of Blossom Comparry concludes that it has sufficient cash to permit some short-term investments in debt and equity securities. During the year, the following transactions occurred Feb. 1 Purchased 700 shares of Muninger common stock for $35,000. Mar. 1 Purchased 900 shares of Tatman common stock for $22.500. Apr. 1 Purchased 60 of $1,000,8% Yoakem bonds for $60,000, Interest is payable semiannually on April 1 and October 1. July 1 Recelved a cash dividend of 50.70 per share on the Muninger common stock. Aug 1 Sold 233 shares of Muninger common stockat $65 per share. Sept: 1 Recelved a $2 per share cash dividend on the fatman common stock. Oct. 1 Aecelved the semianmal interest on the Yoakem bonds Oct. 1 Sold the Yoakem bonds for $58.000 At December 31, the tair value of the Muninger and Tatman common stocks were $51 and $24 per share reipectively. These stock investments by Blossom Company provide less than a 20% i. ownership interest