Determine how much to invest in this new online candy company. Since this is a fictional company, there are no 10-K reports available. Therefore, you will have to decide on a fictional amount to invest. Use the accounting methods and principles from the Financial Accounting Standards Board (FASB) Accounting Standards Codification and Generally Accepted Accounting Principles (GAAP), linked in the Supporting Materials section, to apply the correct method to the given acquisition and to summarize basic journal entries based on the amount invested.

Journal Entries

1. Summarize the basic journal entries needed for the current period (at the time of investment) and end of year if 15% of Online Confections of a Chocoholic was purchased. Include the following details in your response:
   1. State the exact dollar amount of the investment.
   2. Note the accounts that should be used in the journal entries.
   3. Use debits and credits appropriately.
2. Summarize the basic journal entries needed for the current period (at the time of investment) and end of year if 33.3% of Online Confections of a Chocoholic was purchased. Include the following details in your response:
   1. State the exact dollar amount of the investment.
   2. Note the accounts that should be used in the journal entries.
   3. Use debits and credits appropriately.
3. Summarize the basic journal entries needed for the current period (at the time of investment) and end of year if 75% of Online Confections of a Chocoholic was purchased. Include the following details in your response:
   1. State the exact dollar amount of the investment.
   2. Note the accounts that should be used in the journal entries.
   3. Use debits and credits appropriately.