In the current year,Logic Co.purchased stock of Waterford Co.with a cost of $125,000 and a year-end fair value of $123,700.Logic also purchased 1,500 shares of Jasper Co.common stock with a cost of $25,000 and a year-end fair value of $26,100.These investments are considered stock investments with insignificant influence.Prepare the journal entry to record any necessary fair value adjustment to the stock investments as of its December 31 year-end.

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The Answer of In the current year,Logic Co.purchased stock of Waterford Co.with a cost of $125,000 and a year-end fair value of $123,700.Logic also purchased 1,500 shares of Jasper Co.common stock with a cost of $25,000 and a year-end fair value of $26,100.These investments are considered stock investments with insignificant influence.Prepare the journal entry to record any necessary fair value adjustment to the stock investments as of its December 31 year-end.

In the Current Year,Logic Co