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Korman 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
Korman 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 $150,000 $137,700 184,000 191,300 $334,000 $329,000 10,000 shares of Gant, Common All of the securities had been purchased in 2018. In 2019, Korman completed the following securities transactions: March 1 Sold 5,000 shares of Thomas Corp., Common $30.90 less fees of $1,500 Apri Bought 610 shares of Werth Stores, Common $47 plus fees of $580 The Korman Company portfolio ofequity securities appeared as follows on December 31, 2019 Cost Fair Value 10,000 shares of Gant, Common $184,000 $194,900 610 shares of Werth Stores, Common 29,250 27,060 $213,250 $221,960 Prepare the general journal entry for Korman Company for the 2018 adjusting entry. (Credit account titles are automatically indented when amount is entered. Do not indent manually. IF no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit 12-31-18
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