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2011





Feb. 27 Purchased 3,800 shares of HCA at $34 per share plus a $410 commission.





Mar. 3 Sold 1,600 shares of Hunt at $33 per share less a $250 commission.





June 21 Sold 2,600 shares of Lucent at $37.75 per share less a $420 commission.





June 30 Purchased 1,200 shares of Black %26amp; Decker at $47.50 per share plus a $590 commission.





Nov. 1 Sold 2,000 shares of Donna Karan at $19.50 per share less a $309 commission.











On December 31, 2011 , prepare the adjusting entry to record any necessary market adjustment for the portfolio of trading securities when HCA鈥檚 share price is $36 and Black %26amp; Decker鈥檚 share price is $43.5. (Assume the Market Adjustment鈥擳rading account had an unadjusted balance of zero.)











Calculating the market adjustment trading and unrealized gain income?|||Sell all your stock and buy a foreclosed house in your town. Rent it to a family. You'll make money over the long run, help a family out (thus strengthening the neighborhood), and convert ordinary income into capital gains income. Good luck.