Clifton Company has the following securities in its portfolio of trading securities on

December 31, 2017:

CostFair Value

5,000 shares of Thomas Corp., Common$149,000$139,000

10,000 shares of Gant, Common172,000190,000

$321,000$329,000

All of the securities had been purchased in 2017. In 2018, Clifton completed the following

securities transaction

March 1Sold 5,000 shares of Thomas Corp., Common @ $31 less fees of $1,500.

April 1 Bought 600 shares of Worth Stores, Common @ $45 plus fees of $550.

The Clifton Company portfolio of trading securities appeared as follows on December 31, 2018:

CostFair Value

10,000 shares of Gant, Common172,000175,500

600 shares of Worth Stores, Common27,55025,500

$199,550$201,000

Using the form provided on the following page, prepare the general journal entries for Clifton

Company for:

(a)the 2017 adjusting entry.

(b)the sale of the Thomas Corp. stock.

(c)the purchase of the Worth Stores stock.

(d)the 2018 adjusting entry.