At year-end on December 31, 2016, the American Express common stock that Williams Company holds has a

Question:

At year-end on December 31, 2016, the American Express that Williams Company holds has a quoted market price of $84.16 per share. Assuming that Williams Company has no other investments, record the entry to adjust the American Express to fair value?
Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...