I NEED ANDSWER IN TABLES

Q$3-$ Z Incorporation acquired significant influence over Y Company by purchasing $100$ percent of the common stock of the Y Incorporation for $$100,000$; Y earns income of $$50,000$ and pays dividends of $$10,000(4$ marks$)$

Required: Pass Journal Entries To Update The Investment Account In Y Incorporation Using Equity Method And Cost Method.

Q$4.$ Given the Following Information for $2023(5$ marks$)$

Z owns $70\%$ of Y

Y net income for $2023$ is $$150,000$

Y declares dividends of $$10,000$ during $2023.$

Y has $20,000$ shares of $ $1$ par value per stock outstanding that issued for $$10$ per share.

Y beginning balance in Retained Earnings for $2023$ is $$50,000.$

Required: Prepare Basic Elimination Entry Using Equity Method

Answer