50%

5. Wang owns 30% of Chen and at December 31, 2015 the balance in Wang's investment account equals bringing Wang's ownership up to 70%. Wang will Dr. Investment in Chen for $600,000 and credit cash $400,000. On January 1, 2016 Wang purchases an additional 40% ownership in Chen for $600,000, for $600,000. What additional entry will Wang be required to make to reflect the increase in ownership. 50% of Smith at has a balance in the investment account of $200,000 at December 31, will Dr. Investment in Smith for $70,000 and credit Cash for $70,000. What additional entry will Roberts 2015. On January 1, 2016 Roberts purchases an additional 10% ownership in Smith for $70,000. Roberts be required to make to reflect the increase in ownership. Chapter 4 Homework (continued) 6. Roberts owns 5. Wang owns 30% of Chen and at December 31, 2015 the balance in Wang's investment account equals bringing Wang's ownership up to 70%. Wang will Dr. Investment in Chen for $600,000 and credit cash $400,000. On January 1, 2016 Wang purchases an additional 40% ownership in Chen for $600,000, for $600,000. What additional entry will Wang be required to make to reflect the increase in ownership. 50% of Smith at has a balance in the investment account of $200,000 at December 31, will Dr. Investment in Smith for $70,000 and credit Cash for $70,000. What additional entry will Roberts 2015. On January 1, 2016 Roberts purchases an additional 10% ownership in Smith for $70,000. Roberts be required to make to reflect the increase in ownership. Chapter 4 Homework (continued) 6. Roberts owns