Check my On January 1, Year 4. Hidden Company acquired 25.000 ordinary shares of Jovano Company for $144.750 when the shareholders equity of Jovano was as follows Ordinary shares (100,000 na par value shares issued and outstanding) detained earnings $200.000 336,00 $536,000 In addition, Hidden purchased 20,000 shares in Jovano for $122.580 on January 1 Year 5 and 10,000 shares in Jovano for $63,480 on January 1 Year 6 The following are the statements of retained earnings for Jovano from Year 4 to Year 6. Year 4 5 336,000 Retained earnings, beginning of your Profit Dividends Retained carnings, end of year Year 5 5370.000 36,000 000 405,000 Year 6 5 405,000 60,000 (22.000 $ 43,000 20.000 $10.000 Additional Information C Additional Information . Jovano's ordinary shares are publicly traded. The market value of the shares at the close on December 31 of one year was the same as the market value on January 1 of the next year. . Any acquisition differential is allocated to customer lists with a useful life of three years on each of the three acquisition dates. Neither company has any customer lists recorded on their separate entity records . There were no unrealized profits from intercompany transactions since the date of acquisition Required: (a) For each of Years 4 to 6, prepare the joumal entries that Hidden would use to account for its investment in Jovano under the (if no entry is required for a transaction/event, select "No journal entry required in the first account field, Round intermediate calculations and final answers to nearest dollar amount.) (0) Cost method View transaction list :X: 1 Record the investment in shares of Jovano company in the books of Hidden Company. Hidden 2 Record the receipt of dividend from Jovano company in the books of Hidden Company. Ere View transaction list :X: . 1 Record the investment in shares of Jovano company in the books of Hidden Company. idden 2 Record the receipt of dividend from Jovano company in the books of Hidden Company. Credit View transaction list X: 1 Record the investment in shares of Jovano company in the books of Hidden Company. idd 2 Record the receipt of dividend from Jovano company in the books of Hidden Company. (ii) Equity method View transaction list X 1 Record the investment in shares of Jovano company in the books of Hidden Company. idden 2 Record the share in profit of Jovano company in the books of Hidden Company. 3 Record amortization of acquisition differential in the books of Hidden Company. Credit 4 Record the receipt of dividend from Jovano company in the books of Hidden Company. View transaction list EXI 1 Record the investment in shares of Jovano company in the books of Hidden Company. idden 2 Record the share in profit of Jovano company in the books of Hidden Company. 3 Record amortization of acquisition differential in the books of Hidden Company. Credit 4 Record the receipt of dividend from Jovarlo company in the books of Hidden Company. Note journal entry has been entered 1 Record the investment in shares of Jovano company in the books of Hidden Company. idden 2 Record remeasurement gain or loss under the equity method in the books of Hidden Company. 3 Record the share in profit of Jovano company in the books of Hidden Company. Credit 4 Record amortization of acquisition differential in the books of Hidden Company. 5 Record the receipt of dividend from Jovano company in the books of Hidden Company. Note: journal entry has been entered Record entry Clear entry View general journal
