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Exercise 15-8 Fair value adjustment to stock investments with insignificant influence LO P4 On December 31, Mors Co. had the following portfolio of stock investments with insignificant influence Mars had no stock investments in prior periods. Cost Fair value Stock Investments Apple stack Chipotle stock 12.000 14.00 Prepare the December 31 adjusting entry to report these investments at fax value View transaction list Journal entry worksheet Record the year end adjustment to fair value, if any. Note: Enter debts before credits. Date General Journal Debit Credit Record entry Clear entry View general journal Exercise 15-10 Transactions and fair value adjustments for stock investments with insignificant influence LO P4 Carlsville Company began operations in the current year and had no prior stock investments. The following transactions are from its short term stock investments with insignificant influence. Prepare journal entries to record the tractions On December 31 prepare the adjusting entry to record the fair value adjustment for the portfolio of stock investments July 22 Purchased 1, shares of Hunt Corp. at $30 per share. Sept. 5 Received a $2 cash dividend for each share of Hunt Corp. Sept. 27 Purchased 3,00 shares of HCA at $34 per share. Oct. 3 Sold 1,600 shares of Hunt at $25 per share. Oct. Purchased 1.200 shares of Black & Decker at se per share Dec. 17 Received a cash dividend for each share of Black & Decker Dec. 31 Fair value of the short-term stock investments is $18,639. View transaction list Journal entry worksheet