Assigned dan Sath www V 7 Pan Required information The following formation applies to the questions diayed below) As a long term investment Parts Ement Company purchased 20% AMC Sales 520.000 restor 5650000 the beginning of the scale of becomes the purchase and book of AMC's nests were egon During the year AMC net income of $420.000 de of 30 cents per share. At year-end, the value of the thesis 632.000 2. Assume wgnificant influence was create uma on the purchase the end of yent of no entry is required for a transaction levent, select "jumaly the first one Maa iraan Journal entry worksheet end the AMC shares or 0.000 mm Invest De + re 7 Part 2 Required information The following information applies to the questions displayed below As a long-term investment Painters Equipment Company purchased 20% of AMC Supplies in 570,000 shares for 5650.000 at the beginning of the fiscal year of both companies on the purchase date, the fair value and book value of AMC's net assets were equal. During the yea, AMC earned rencome of $420.000 and distributed cash dividends of 30 cents per share At year-end, the fair value of the share 692,000 2. Assume significant ince was acquired. Prepare the appropriate uma entries from the purchase though the end of the year ( no entry is required for a transaction/event, select "No journal entry required in the first account fold) View tract Journal entry worksheet 2 3 Recue es pensar ef AMC Supplies 420.000 not income G Ture 2 Cle 7 Part Required information The following information applies to the questioned ! As a long term investment Parts Equipment Company purchased 20% of AMC Suspleines 570.000 resto $650.000 at the beginning of the few year of both comes on the purchased, there we book value of AMC nutarties were equat During the ye, AMC and recome of $420,000 and cultura con dividende of cents per share. A year on the far value of the shares 12.000 w 2. Assumence was cred. Prepare the propre uma estrom nepochose though the end of your one entry is required for a transaction wentelect "No jours entry required in the first account held Journal entry worksheet 2 core she conser Required information The following information applies to the questions displayed below) As a long-term investment, Painters Equipment Company purchased 20% of AMC Supplies inc's 570.000 shares for $650.000 at the beginning of the focal year of both companies. On the purchase date, the fair value and book value of AMC's not assets were equat. During the year AMC med net income of $420.000 and distributed cash dividends of 30 cents per Share Al year-end, the value of the shares is $692,000. Part 2 2. Assume significant influence was acquired. Prepare the appropriate journal entries from the purchase through the end of the year of no entry is required for a transactionlevent, select "No journal entry required in the first account field) View traction Journal entry worksheet Record any necessary year and adjusting your entry when we are the shares held are 1082,000 trend Gewer dandy