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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

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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 $151,000 $139,000 10,000 shares of Gant, Common 184.000 190.000 $335.000 $329.000 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 @ $32 loss feos of $1,500. April 1 Bought 600 shares of Werth Stores, Common @ $45 plus fees of $5 The Korman Company portfolio of equity securities appeared as follows on December 31, 2019: Cost Fair Value 10,000 shares of Gant, Common $184,000 $195,500 600 shares of Werth Stoles, Common 27550 25,500 $211.550 $221.000 Instructions Prepare the general Journal entries for Korman Company for: (a) the 2018 adjusting entry. (b) the sale of the Thomas Corp. stock. (c) the purchase of the Worth Stores' stock. (d) the 2019 adjusting entry

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