On December 31, 2009, Durst Company's balance sheet showed the following balances related to its securities accounts:

Question:

Durst's securities portfolio on December 31, 2009, was made up of the following securities:

During 2010, the following transactions took place:
Jan. 3 Received interest on the New York City water bonds.
Mar. 1 Purchased 300 additional shares of Herzog Corp. stock for $22,950, classified as a trading security.
Apr. 15 Sold 400 shares of the Taylor Inc. stock for $69 per share.
May 4 Sold 400 shares of the Martin Inc. stock for $62 per share.
July 1 Received interest on the New York City water bonds.
Oct. 30 Purchased 1,500 shares of Cook Co. stock for $83,250, classified as a trading security.
The fair values of the stocks and bonds on December 31, 2010, are as follows:
Herzog Corp. stock $76.60 per share
Taylor Inc. stock $68.50 per share
Cook Co. stock $55.25 per share
New York City water bonds $20,555
Martin Inc. stock $61.00 per share
Outdoors Unlimited Inc. stock $27.00 per share

Instructions:
1. Make all necessary journal entries for 2010, including any year-end accrual or adjusting entries.
2. Show how the investment securities would be presented on the balance sheet at December 31, 2010. Assume that the available-for-sale securities are classified as currentassets.

Stocks
Stocks or shares are generally equity instruments that provide the largest source of raising funds in any public or private listed company's. The instruments are issued on a stock exchange from where a large number of general public who are willing... 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... Portfolio
A portfolio is a grouping of financial assets such as stocks, bonds, commodities, currencies and cash equivalents, as well as their fund counterparts, including mutual, exchange-traded and closed funds. A portfolio can also consist of non-publicly...