Gilder Company has the following securities in its portfolio of trading equity securities on 12/31/17:

Cost Fair Value

5,000 shares of Diamond Corp. $146,000 $126,500

10,000 shares of Culver Co. 180,000 185,000

2,000 shares of Barbee Co. 52,000 52,600

$378,000 $364,100

All of the securities had been purchased in 2017.

In 2018, Gilder completed the following securities transactions:

3/1 Sold 5,000 shares of Diamond Corp. @ $26 less fees of $1,500.

7/1 Bought 600 shares of Vogle Stores @ $42 plus fees of $550.

The Gilder Company portfolio of trading equity securities appeared at the end of 2018:

Cost Fair Value

10,000 shares of Culver Co. $180,000 $198,500

2,000 shares of Barbee Co. 52,000 53,000

600 shares of Vogle Stores 25,750 23,800

$257,750 $275,300

Required: Prepare the general journal entries for Gilder Company for:

the 2017 adjusting entry.

the sale of the Diamond Corp. stock and the purchase of the Vogle Stores stock

the 12/31/18 adjusting entry.

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