Korman Company has the following securities in its portfolio of trading equity securities on December 31, 2016 Cost Fair Value 5,000 shares of Thomas Corp , Common 139,500 125,100 10,000 shares of Gant, Common 163800 171,000 303,300 296,100 All of the securities had been purchased in 2016 Instructions Prepare the general journal entries for Korman Company for the 2016 including the adjusting entry, if any

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Korman Company has the following securities in its portfolio of trading equity securities on December 31, 2016. Cost Fair Value 5,000 shares of Thomas Corp.,

Korman Company has the following securities in its portfolio of trading equity securities on December 31, 2016.

	Cost	Fair Value
5,000 shares of Thomas Corp., Common	139,500	125,100
10,000 shares of Gant, Common	163800	171,000
	303,300	296,100

All of the securities had been purchased in 2016.

Instructions

Prepare the general journal entries for Korman Company for the 2016 including the adjusting entry, if any

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