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"Problem 1 The Korman Company portfolio of trading equity securities appeared as follows on December 31, 2011:

"Problem 1
The Korman Company portfolio of trading equity securities appeared as follows on December 31, 2011:
Cost Fair Value
10,000 shares of Gant, Common $182,000 $195,500
600 shares of Werth Stores, Common 27,550 25,500
$209,550 $221,000

Instructions
Prepare the general journal entries for Korman Company for:
(d) the 2011 adjusting entry.

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Accounting - 8226237.xls

SOLUTION:
Journal Entries in the books of Korman Company
Date
31-Dec-11 31-Dec-11 Particulars Debit Securities Fair Value Adjustment (Trading)
Unrealized Holding Gain or Loss
(Adjustment of Gant...

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