Journal entries and financial statement presentation of short-term securities available for sale. The following information summarizes data

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Journal entries and financial statement presentation of short-term securities available for sale. The following information summarizes data about Dostal Corporation's marketable securities held as current assets and classified as securities available for sale:


Fair Value Dec. 31, 2008 Dec. 31, Date Acquisition Cost Selling Date Sold 6/5/2009 2009 Price Security Acquired A. .....


a. Give all journal entries relating to these marketable equity securities during 2008 and 2009, assuming that the accounting period is the calendar year.
b. Provide a suitable presentation of marketable securities in the balance sheet and related notes on December 31, 2008.
c. Provide a suitable presentation of marketable securities in the balance sheet and related notes on December 31.2009.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
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Financial Accounting an introduction to concepts, methods and uses

ISBN: 978-0324789003

13th Edition

Authors: Clyde P. Stickney, Roman L. Weil, Katherine Schipper, Jennifer Francis

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