Marshall Corporation acquired 24% of the common shares of Sharp Inc. on January 1, 2018, by paying $1,620,000 for 60,000 shares. Both companies were publicly traded companies. Sharp declare and paid a $0.50 per share cash dividend on June 30 and again on December 31, 2018. Sharp reported net income of $836,000 for the year. At December 31, the fair value of the Sharp shares was $ per share Prepare the journal entries for Marshall Corporation for 2018 assuming Marshall cannot exercise significant influence over Sharp and decides to hold the shares as a trading investment. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts Date Account Titles and Explanation Debit Credit To record dividends.) To record unrealized in /loss on Prepare the journal entries for Marshall Corporation for 2018 assuming Marshall can exercise significant influence over Sharp. (Credit accou entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit (To record dividends.) (To record share in profit.) The board of directors of Marshall Corporation is confused about the differences between the financial statement presentation of the fair value through profit or loss model and equity method Show in tabular form the account balances under each method at December 31, 2018 Fair Value through Profit and Loss Model Equity Model Investment-Sharp, Dec 31/18 Dividend revenue Income from associates Unrealized gain on held for trading investments Marshall Corporation acquired 24% of the common shares of Sharp inc on January 1, 2018 by paying $1,620,000 for 60,000 shares. Both companies were publicly traded companies. Sharp declared and paid a $0.50 per share cash dividend on June 30 and again on December 31, 2018. Sharp reported net income of $836.000 for the year. At December 31. the fair value of the Sharp shares was $29 per share Prepare the journal entries for Marshall Corporation for 2018 assuming Marshall cannot exercise significant influence over Sharp and decides to hold the shares as a trading investment Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit TOM Corporation for 2018 countries are automatically indented when the amount m g Marshall cannot exercise significantiuence over Sharp and decides to hold the shares as a trading investment Denti s t ry for the countries and enter for the amounts) Date Account Tities and Explanation Debit Credit (To record dividends.) (To record unrealized gain / loss on trading investments) Prepare the journal entries for Marshall Corporation for 2018 assuming Marshall can exercise significant influence over Sharp. (Credit account titles are automatically indented when the amounts entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts) Date Account Titles and Explanation Debit Credit (To record dividends.) To record share in profit.) The board of directors of Marshall Corporation is confused about the differences between the financial statement presentation of the fair value through profit or loss model and equity method. Show in tabular form the account balances under each method at December 31, 2018 Fair Value through Profit and Loss Model Equity Model Investment-Sharp, Dec 31/18 Dividend revenue Income from associates Unrealized gain on held for trading investments Marshall Corporation acquired 24% of the common shares of Sharp Inc. on January 1, 2016, by paying $1,620,000 for 60,000 shares. Both companies were publicly-traded companies. Sharp declared and paid a $0.50 per share cash dividend on June 30 and again on December 31, 2018. Sharp reported net income of $836,000 for the year. At December 31, the fair value of the Sharp shares was $29 per share Prepare the journal entries for Marshall Corporation for 2018 assuming Marshall cannot exercise significant influence over Sharp and decides to hold the shares as a trading investment. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts) Date Account Titles and Explanation Debit Credit (To record dividends.)
