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Bonus question: On December 31, 2020 Atlanta Company had net loss for the year of USD 10,000,000 due to some major problems it faced. There
Bonus question: On December 31, 2020 Atlanta Company had net loss for the year of USD 10,000,000 due to some major problems it faced. There were no other events or transactions during the year related to shareholders equity. Prepare the journal entries booked by Boston Company to record the above events for its reporting on December 31, 2020, if the investment is considered to be of significant influence (Equity Method). What is the reported value of Investment in Atlanta in the balance sheet of Boston Company on December 31, 2020 after the entries have been recorded? (10 points)
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