An assumption about the total value of the company you're acquiring ($1,000,000 total), and then determining your Investment amounts at each ownership percentage.

1. Summarize the basic journal entries needed for the current period (at the time of investment) and end of year if 15% of Online Confections of a Chocoholic was purchased. Include the following details in your response:
   1. State the exact dollar amount of the investment.
   2. Note the accounts that should be used in the journal entries.
   3. Use debits and credits appropriately.
2. Summarize the basic journal entries needed for the current period (at the time of investment) and end of year if 33.3% of Online Confections of a Chocoholic was purchased. Include the following details in your response:
   1. State the exact dollar amount of the investment.
   2. Note the accounts that should be used in the journal entries.
   3. Use debits and credits appropriately.
3. Summarize the basic journal entries needed for the current period (at the time of investment) and end of year if 75% of Online Confections of a Chocoholic was purchased. Include the following details in your response:
   1. State the exact dollar amount of the investment.
   2. Note the accounts that should be used in the journal entries.
   3. Use debits and credits appropriately.