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on January 1, 2018, Bryant, Inc decides to invest in 3.750 shares of Farter stock when the stock is selling for $18 per share on

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on January 1, 2018, Bryant, Inc decides to invest in 3.750 shares of Farter stock when the stock is selling for $18 per share on August 1, 2016. Furter paid a 50 70 per share cash dividend to stockholders. On December 31, 2018. Farter reports net income of 80,000 for 2018. Assume anternas 15,000 shares of voting stock outstanding during 2011 and Bryant has significant influence over Fame Read the requirements Requirement 1. Identify what type of investment the Farrier stock is for Bryant Bryant's investment would be a significant influence Investment Requirement 2. Journalize the transactions related to Bryant's Investment in the Farter stock during 2018. (Precord decisfrst, then creats. Select the explanation on the last line of the journal entry table. If no entry is required, select "No entry required on the first line of the Accounts and Explanation column and leave the remaining cells blank) January 1: Bryant, Inc. decides to invest in 3,750 shares of Farrier stock when the stock is selling for $15 per share Accounts and Explanation Debit 60,000 Equity Investments-Farnier 60.000 Date Jan 1 Credit Cash Purchased investment in stock equity method) August 1: Famer paid a $0.70 per share cash dividend to stockholders Date Accounts and Explanation Aug 1 Cash Equity Investments Farner Debit br POLE Credit re Received cash dividend equity method) December 31: Farrier reports net income of $50,000 for 2018 Date Accounts and Explanation Dec. 31 Equity Investments-Farrier Revenue from investments Debit Credit Recorded revenue earned from investment (equity method Requirement 3. In what category and at what value would Bryant's report the investment on the December 31, 2018, balance sheet? Bryant would report a long-term asset of s on the December 31, 2016, balance sheet

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