3. Counting Services Inc. has the following portfolio of trading equity securities at 12/31/18. All securities were purchased during 2018.

Symbol # shares Total Cost Market Value

AAPL 1000 $105,000 $125

BMX 2000 $47,000 $51

CAT 1000 $100,000 $105

GNC 3000 $64,000 $21

Total $316,000

• Prepare the adjustment necessary at 12/31/18.

• On February 12, 2019, Counting Services sells 1,000 shares of AAPL for $125,000. Prepare the journal entry.

• The total cost of the three remaining securities is $211,000 and the market value is (see below) at March 31, 2019. Prepare the adjusting entry.

AAPL	BMX	CAT	GNC
$135	$55	$99	$24