Blackboard | New Jersey City Uni X Bb NJCU Blackboard Ultra x Question 1 - practice chapter 4 - X Consolidated Financial Statemen *Forgot Password - Cou C ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fblackboard.njcu.edu%252Fwebapps%252Fbl practice chapter 4 (i Pirate Corporation purchased 100 percent ownership of Ship Company on January 1, 20X5, for $270,000. On that date, the book valu of Ship's reported net assets was $200,000. The excess over book value paid is attributable to depreciable assets with a remaining useful life of 10 years. Net income and dividend payments of Ship in the following periods were as shown below: 20 points Year Net Income Dividends 20X5 $20,000 $ 5,000 20X 40,000 15,000 20X7 20,000 35,000 Book Required: Prepare journal entries on Pirate Corporation's books relating to its investment in Ship Company for each of the three years, assuming Print it accounts for the investment using the equity method. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) References View transaction list Journal entry worksheet 1 1 2 3 4 5 6 7 8 9 10 JH Record the amortization of the differential value for 20X7. Note : Enter debits before credits . Event General Journal Debit Credit (3c) Income from Ship Company Investment in Ship Company Record entry Clear entry View general journal Prev. 1 of b. Prepare a three-part consol (the "parent" and "subsidiary minus sign, while all values in th positive values. For accounts wh entries into one amount and ent Similarly, combine all credit ent column of the worksheet.) Page 5 of 5 1231 words How Chapter 3 adv acct.do. vi XI Question 1 - practice .. P P iCloud iCloud Adobe Photoshop E Optix MAG341CQ msi omsi CURVED UWORD 100 12 1800RAMDZ