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 View transaction list Cost $ 5,300 3,400 10,100 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 < 1 Fair Value $ 9,300 1,500 14,600 Record the year-end adjustment to fair value, if any.
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 View transaction list Cost $ 5,300 3,400 10,100 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 < 1 Fair Value $ 9,300 1,500 14,600 Record the year-end adjustment to fair value, if any.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![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
View transaction list
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.
Cost
$ 5,300
3,400
10,100
Journal entry worksheet
< 1
Fair Value
$ 9,300
1,500
14,600
Note: Enter debits before credits.
Record the year-end adjustment to fair value, if any.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F37b57dc3-6ce2-496a-8c32-489a3dcf3dd7%2Fc42668bd-2f9b-43a9-bcda-cb15468fbe9c%2F4lynh7p_processed.jpeg&w=3840&q=75)
Transcribed Image Text: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
View transaction list
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.
Cost
$ 5,300
3,400
10,100
Journal entry worksheet
< 1
Fair Value
$ 9,300
1,500
14,600
Note: Enter debits before credits.
Record the year-end adjustment to fair value, if any.
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