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Use the following information for the Exercises below. (Algo) Skip to question [The...

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Accounting

Use the following information for the Exercises below. (Algo)

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[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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