Jacuzzi Company has the following securities in its portfolio of equity securities on December 31, 2018:

Cost Fair Value

5,000 shares of Thomas Corp., Common $151,000 $129,000

10,000 shares of Gant, Common 184,000 188,000

$335,000 $317,000

All of the common stock securities had been purchased in 2018.

In 2019, Jacuzzi completed the following securities transactions:

March 1 Sold 5,000 shares of Thomas Corp., Common @ $34 less fees of $700.

April 1 Bought 600 shares of Werth Stores, Common @ $45 plus fees of $5

The Jacuzzi Company portfolio of equity securities appeared as follows on December 31, 2019:

Cost Fair Value

10,000 shares of Gant, Common $184,000 $191,800

600 shares of Werth Stores, Common 27,550 26,400

$211,550 $218,200

Instructions

Prepare the general journal entries for Jacuzzi Company for:

(a) the 2018 adjusting entry.

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

(c) the purchase of the Werth Stores' stock.

(d) the 2019 adjusting entry.

Jacuzzi Company has the following securities in its portfolio of equity securities on December 31, 2018:

Cost Fair Value

5,000 shares of Thomas Corp., Common $151,000 $129,000

10,000 shares of Gant, Common 184,000 188,000

$335,000 $317,000

All of the common stock securities had been purchased in 2018.

In 2019, Jacuzzi completed the following securities transactions:

March 1 Sold 5,000 shares of Thomas Corp., Common @ $34 less fees of $700.

April 1 Bought 600 shares of Werth Stores, Common @ $45 plus fees of $5

The Jacuzzi Company portfolio of equity securities appeared as follows on December 31, 2019:

Cost Fair Value

10,000 shares of Gant, Common $184,000 $191,800

600 shares of Werth Stores, Common 27,550 26,400

$211,550 $218,200

Instructions

Prepare the general journal entries for Jacuzzi Company for:

(a) the 2018 adjusting entry.

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

(c) the purchase of the Werth Stores' stock.

(d) the 2019 adjusting entry.