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number 6 question.. please give me some solutions! Question 6 of 7 -/2 View Policies Current Attempt in Progress Visage Cosmetics, a public company, acquires

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number 6 question..
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image text in transcribed
please give me some solutions!
Question 6 of 7 -/2 View Policies Current Attempt in Progress Visage Cosmetics, a public company, acquires 40% of Skysong Inc's 30.900 common shares for $19 per share on January 2, 2021 On June 15, Skysong pays a cash dividend of $30,900. On December 31, Skysong reports profit of $376,200 for the year. At December 31, Skysong shares are trading at $22 per share. Prepare the required journal entries to record the Skysong Inc. investment assuming significant influence exists. (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. Record journal entries in the order presented in the problem) Account Titles and Explanation Credit Date Debit (To record purchase of investment.) (To record collection of dividend from associate) (To record investment income from associate) Question 6 of 7 -/2 UN JUNE 13, Kysung pays a carVIUEN OF JU. UU. TELEMET 1. ORYSUT TUOTES TURU 2370, Tor the year. At December 31, Skysong shares are trading at $22 per share. Prepare the required journal entries to record the Skysong Inc. investment assuming significant influence exists. (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 O for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit I (To record purchase of investment.) v (To record collection of dividend from associate.) (To record investment income from associate) e Textbook and Media (To record collection of dividend from associate.) (To record investment income from associate.) e Textbook and Media Determine the balance in the investment account on December 31, 2021. Visage Cosmetics' year end. Balance in the investment account $ e Textbook and Media Attempts: 0 of 3 used Submi

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