Roane Company often invests in the stock of other companies for long-term purposes.None of the stocks currently held by Roane qualify for use of the equity method.The following amounts relate to Roane's long-term portfolio of marketable equity securities. $\begin{array}{lrr}
& \text { Dec. 31, 2012 } & \text { Dec. 31, 2013 } \
\text { Total cost } & \$ 560,000 & \$ 660,000 \
\text { Total market } & 460,000 & 584,000
\end{array}$ Based on the above information,the adjusting entry on December 31,2013 is:

Question

Roane Company often invests in the stock of other companies for long-term purposes.None of the stocks currently held by Roane qualify for use of the equity method.The following amounts relate to Roane's long-term portfolio of marketable equity securities. $\begin{array}{lrr} 
& \text { Dec. 31, 2012 } & \text { Dec. 31, 2013 } \
\text { Total cost } & \$ 560,000 & \$ 660,000 \
\text { Total market } & 460,000 & 584,000
\end{array}$ Based on the above information,the adjusting entry on December 31,2013 is:

Quizplus · Accepted Answer

The Answer of Roane Company often invests in the stock of other companies for long-term purposes.None of the stocks currently held by Roane qualify for use of the equity method.The following amounts relate to Roane's long-term portfolio of marketable equity securities. $\begin{array}{lrr} 
& \text { Dec. 31, 2012 } & \text { Dec. 31, 2013 } \
\text { Total cost } & \$ 560,000 & \$ 660,000 \
\text { Total market } & 460,000 & 584,000
\end{array}$ Based on the above information,the adjusting entry on December 31,2013 is:

Roane Company Often Invests in the Stock of Other Companies