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Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] On December 31, Mars Company

Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] On December 31, Mars Company had the following portfolio of stock investments with insignificant influence. Mars had no stock investments in prior periods. Stock Investments Apple stock Chipotle stock Under Armour stock Cost $ 5,400 4,400 11,500 Fair Value $ 8,200 1,000 13,000 Exercise 15-10 (Algo) Fair value adjustment to stock investments with insignificant influence LO P4 Prepare the December 31 adjusting entry to report these investments at fair value. Journal entry worksheet

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