! Required information [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 $ 5,100 3,600 12,400 Fair Value $8,700 2,900 14,200 Prepare the December 31 adjusting entry to report these investments at fair value.
! Required information [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 $ 5,100 3,600 12,400 Fair Value $8,700 2,900 14,200 Prepare the December 31 adjusting entry to report these investments at fair value.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter13: Investments And Long-term Receivables
Section: Chapter Questions
Problem 2MC: During 2021, Anthony Company purchased debt securities as a long-term investment and classified them...
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