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Category > Accounting Posted 22 May 2017 My Price 9.00

Fair value and equity methods.

Fair value and equity methods.

Prepare journal entries for the following transactions, assuming ABC uses (a) the fair

value method and (b) the equity method for accounting for its investments in XYZ

Co.

a. At the beginning of Year

2017, ABC bought 20%

of XYZ's common stock

at its book value. Total

book value of all XYZ's

common stock was

$1,000,000 on this date.

b. During Year 2017, XYZ

reported $100,000 of net

income and paid $50,000

of dividends.

c. During Year 2018, XYZ

reported a net loss of

$20,000 and paid $7,000

of dividends.

PLEASE THE SOLUTION FOR THIS PROBLEMS CAN BE IN DETAILS? THANKS!

Answers

SuperTutor
(15)
Status NEW Posted 22 May 2017 06:05 AM My Price 9.00

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