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Assume an investor pays $24 to obtain 14% ownership of an investee. 12. Record the purchase: Assets Liabilities Owners' Equity Debit Credit s 13. Assume

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Assume an investor pays $24 to obtain 14% ownership of an investee. 12. Record the purchase: Assets Liabilities Owners' Equity Debit Credit s 13. Assume the value of the investment increases in value by 1/4. Record the entry, if any, needed to record the increase in value. Assets Liabilities Owners' Equity Debit Credit $ $

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