on december 31 2013 durst company s balance sheet showed the following balances rela 3387181

On December 31, 2013, Durst Company s balance sheet showed the following balances related to its securities accounts: Durst s securities portfolio on December 31, 2013, was made up of the following securities: During 2014, 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, 2014, 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 2014, including any year-end accrual or adjusting entries. 2. Show how the investment securities would be presented on the balance sheet at December 31, 2014. Assume that the available-for-sale securities are classified as current assets.

 

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