4. a. Thompson owns 100% of Rollins and at December 31, 2012, its Investment in Rollins account stands at $10,000,000. On that date Thompson sells 20% of its ownership for $2,500,000 cash.

Prepare the journal entry to be recorded by Thompson on December 31, 2012.

b. Same facts as above, except the sales price is $1,000,000 cash. Prepare the journal entry to be recorded by Thompson on December 31, 2012.

5. a. Big owns 60% of Little and at December 31, 2012, its Investment in Little account stands at $6,000,000. On that date Big sells half its ownership for $4,000,000 cash.

Prepare the journal entry to be recorded by Big on December 31, 2012.

C. Same facts as above, except the sales price is $2,500,000 cash. Prepare the journal entry to be recorded by Big on December 31, 2012.

5. Wang owns 30% of Chen and at December 31, 2015 the balance in Wang's investment account equals $400,000. On January 1, 2016 Wang purchases an additional 40% ownership in Chen for $600,000, bringing Wang's ownership up to 70%. Wang will Dr. Investment in Chen for $600,000 and credit cash for $600,000. What additional entry will Wang be required to make to reflect the increase in ownership. 6. Roberts owns 90% of Smith at has a balance in the investment account of $200,000 at December 31, 2015. On January 1, 2016 Roberts purchases an additional 10% ownership in Smith for $70,000. Roberts will Dr. Investment in Smith for $70,000 and credit Cash for $70,000. What additional entry will Roberts be required to make to reflect the increase in ownership.

6.Roberts owns 50% of Smith at has a balance in the investment account of $200,000 at December 31, 2015. On January 1, 2016 Roberts purchases an additional 10% ownership in Smith for $70,000. Roberts will Dr. Investment in Smith for $70,000 and credit cash for $70,000.

What additional entry will Roberts be required to make to reflect the increase in ownership. ?

Show explanation & reasoning do not copy paste from chegg please