Question
Use the following information for the Exercises below. (Algo) Skip to question [The following information applies to the questions displayed below.] On December 31, Mars
Use the following information for the Exercises below. (Algo)
Skip to question
[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 | Cost | Fair Value |
|---|---|---|
| Apple stock | $ 6,400 | $ 9,600 |
| Chipotle stock | 3,800 | 2,900 |
| Under Armour stock | 12,700 | 14,800 |
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.
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Fundamental accounting principle
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
21st edition
1259119831, 9781259311703, 978-1259119835, 1259311708, 978-0078025587
