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On January 1, Marcum's Landscape purchased 10,000 shares (35%) of the common stock of Atlantic Irrigation for $600,000. Below are amounts reported by both companles
On January 1, Marcum's Landscape purchased 10,000 shares (35\%) of the common stock of Atlantic Irrigation for $600,000. Below are amounts reported by both companles for the year. Required: For Marcum's Landscape, record the initial purchase, its share of Atlantic's net Income and dividends, and the adjusting entry for Atlantic's fair value at the end of the year, if appropriate. Note: If no entry is required for a particular transaction/event, select "No Journal Entry Required" In the first account fleld. Journal entry worksheet 4 Record the purchase of the investment. Note: Enter debits before credits
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