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Hello, I think I have the correct general journal transaction titles but everything I put in for the figures comes up wrong. I decided to

Hello, I think I have the correct general journal transaction titles but everything I put in for the figures comes up wrong. I decided to stop and ask for help. Could you help me understand what I add and subtract to come up with event 1, 2, 3, 4? Thank you so much.

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Prince Corporation acquired 100 percent of Sword Company on January 1, 20X7, for $201,000. The trial balances for the two companies on December 31, 20X7, included the following amounts: Prince Corporation Sword Company Item Debit Credit Debit Credit Cash $ 94,000 $ 44,000 Accounts Receivable 51,000 56, 000 Inventory 181, 000 114, 000 Land 92 , 000 39, 000 Buildings and Equipment 494, 000 154,000 Investment in Sword Company 257,000 Cost of Goods Sold 494, 000 255, 000 Depreciation Expense 20,000 10,000 Other Expenses 66,000 66, 000 Dividends Declared 69,000 26,000 Accumulated Depreciation $ 146 , 000 $ 50,000 Accounts Payable 55 , 000 27,000 Mortgages Payable 197 ,000 129,000 Common Stock 291, 000 45,000 Retained Earnings 366, 000 97,000 Sales 681, 000 Income from Sword Company 82, 000 416, 000 $1, 818, 000 $1, 818,000 $764, 000 $764, 000 Additional Information 1. On January 1, 20X7, Sword reported net assets with a book value of $142,000. A total of $26,000 of the acquisition price is app to goodwill, which was not impaired in 20X7. 2. Sword's depreciable assets had an estimated economic life of 11 years on the date of combination. The difference between fair value and book value of tangible assets is related entirely to buildings and equipment. 3. Prince used the equity-method in accounting for its investment in Sword. 4. Detailed analysis of receivables and payables showed that Sword owed Prince $22,000 on December 31, 20X7. Required: a. Prepare all journal entries recorded by Prince with regard to its investment in Sword during 20X7. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list View journal entry worksheet No Event General Journal Debit Credit A Investment in Sword Company Cash B 2 Investment in Sword Company Income from Sword Company C 3 Cash Investment in Sword Company D 4 Income from Sword Company Investment in Sword Company

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