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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
Long-Term Investments On December 31, 2009, Marsh Company held 1,000 shares of X Company common stock in its portfolio of long-term investments in available-for-sale securities. The stock had cost $15 per share and has a current market value of $13 per share. The December 31, 2009 balance sheet showed the following:

During 2010 the company acquired as long-term investments 900 shares of Y Company common stock for $18 per share and 800 shares of Z Company common stock for $22 per share. At the end of 2010 the respective market values per share were: X—$14, Y—$17, and Z—$20.
Required
Record the purchase of the investments in 2010 and the adjusting entry on December 31, 2010, and show the respective December 31, 2010 balance sheet accounts.
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