Korman Company has the following securities in its portfolio of equity securities on December 31, 2018: Cost Fair Value5,000 shares of Thomas Corp., Common $149,000 $138,00010,000 shares of Gant, Common 180,000 187,000 $329,000 $325,000All 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 @ $30.80less fees of $1,500.April 1 Bought580shares of Werth Stores, Common @ $43plus fees of $500.The Korman Company portfolio ofequity securities appeared as follows on December 31, 2019: Cost Fair Value10,000 shares of Gant, Common $180,000 $190,000580shares of Werth Stores, Common 25,440 23,540 $205,440 $213,540

Question 2 of 2 - 11 15 View Policies Current Attempt in Progress 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 $149,000 $138,000 10,000 shares of Gant, Common 180,000 187,000 $329,000 $325,000 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 @ $30.80 less fees of $1,500. April 1 Bought 580 shares of Werth Stores, Common @ $43 plus fees of $500. The Korman Company portfolio ofequity securities appeared as follows on December 31, 2019: Cost Fair Value 10,000 shares of Gant, Common $180,000 $190,000 580 shares of Werth Stores, Common 25,440 23,540 $205,440 $213,540 Part 1 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 O for the amounts.) Date Account Titles and Explanation Debit Credit 12-31-18 eTextbook and Media List of Accounts Save for Later Attempts: 0 of 2 used Submit AnswerPart 2 Prepare the general journal entry for Korman Company for the sale of the Thomas Corp. stock. (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 O for the amounts.) Date Account Titles and Explanation Debit Credit 3-1-19 eTextbook and Media List of Accounts Save for Later Attempts: 0 of 2 used Submit Answer Part 3 Prepare the general journal entry for Korman Company for the purchase of the Werth Stores' stock. (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 4-1-19 eTextbook and Media List of Accounts Save for Later Attempts: 0 of 2 used Submit AnswerPart 4 Prepare the general journal entry for Korman Company for the 2019 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 O for the amounts.) Date Account Titles and Explanation Debit Credit 12-31-19 eTextbook and Media List of Accounts Save for Later Attempts: 0 of 2 used Submit