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help please! Return to quest Milani, Inc., acquired 10 percent of Seida Corporation on January 1, 2017 for $184,000 and appropriately accounted for the investment

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Return to quest Milani, Inc., acquired 10 percent of Seida Corporation on January 1, 2017 for $184,000 and appropriately accounted for the investment using the fair-value method. On January 1, 2018, Milani purchased an additional 30 percent of Selda for $645,000 which resulted in significant influence over Seida. On that date, the fair value of Seida's common stock was $1,990,000 in total Seida's January 1, 2018 book value equaled $1.840,000, although land was undervalued by $139,000. Any additional excess fair value over Seida's book value was attributable to a trademark with an 8-year remaining life. During 2018, Seida reported income $275,000 and declared and paid dividends of $109,000. Prepare the 2018 journal entries for Milani related to its investment in Seida. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Answer is not complete. General Journal No Transaction Credit Debit 645,000 Investment in Seida Cash 645,000 110,000 Investment in Seida Equity income-investment in Seida 110,000 Prev 4 of 4 Ret HVUSUM Serd 140, Cash 645,000 110,000 Investment in Seida Equity income-investment in Seida 110,000 Cash 43,600 Investment in Seida 43,600 X 6,550 Equity income-investment in Seida Investment in Seida 6,550 % Record collection of dividend from investee. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal

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