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5 points influence over Liptona views. On that date, the book value of Liptona views was $2,925,000. A building with a carrying value of $570,000
5 points influence over Liptona views. On that date, the book value of Liptona views was $2,925,000. A building with a carrying value of $570,000 was worth $780,000. The building had a remaining life of 10 years. Liptona owned a trademark, the trademark was undervalued by $420,000 with a ten-year remaining life. Club attributed to goodwill any unidentified excess cost. Liptona views Co. reported net income of $675,000 during 2020 and declared and paid dividends of $255,000. Required: Prepare all of Club's journal entries for 2020 in relation to its investment in Liptona views Co. PLEASE SHOW COMPUTATIONS
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