On May 1, 2020, Clarke Inc., a private enterprise, acquired 1,250 shares of Mayson Ltd. for $75,000. This investment represents a 16% interest in Mayson Ltd. and Clarke Inc. uses the cost method to record the investment. On December 31, 2020, Mayson Ltd. paid a $35,000 dividend to its shareholders. At April 30, 2021, Mayson Ltd.'s shares were valued at $30 per share and Mayson Ltd. reported a net loss of $27,000 for the year. On June 15, 2021, Clarke Inc. sold the shares for $85,000. Both Clarke Inc. and Mayson Ltd. have April 30, 2021 year-ends.

Required: Prepare dated journal entries for the investment on the acquiring company's books from acquisition to disposal. Ignore income taxes. Journal entry descriptions are optional.

On May 1, 2020, Bear Inc. acquired 2,250 shares of Cub Ltd. for $75,000. This investment represents a 12% interest in Cub Ltd. Bear Inc. has classified this investment as FVTLP. On December 31, 2020, Cub Ltd. paid a $34,000 dividend to its shareholders. At June 30, 2021, Cub Ltd.'s shares were valued at $30 per share and Cub Ltd. reported a net loss of $35,000 for the year. On July 15, 2021, Bear Inc. sold the shares for $78,000. Both Bear Inc. and Cub Ltd. have June 30, 2021 year-ends.

Required: Prepare dated journal entries for the investment on the acquiring company's books from acquisition to disposal. Ignore income taxes. Journal entry descriptions are optional.

On April 1, 2020, Jenson Ltd. acquired 2,500 shares of Lam Corp. for $50,000. This investment represents a 18% interest in Lam Corp. Jenson Ltd. has classified this investment as FVTOCI. On October 31, 2020, Lam Corp. paid a $42,000 dividend to its shareholders. At March 31, 2021 Lam Corp.'s shares were valued at $15 per share and Lam Corp. reported net income of $145,000 for the year. On May 15, 2021, Jenson Ltd. sold the shares for $75,000. Both Jenson Ltd. and Lam Corp, have March 31, 2021 year-ends.

Required: Prepare dated journal entries for the investment on the acquiring company's books from acquisition to disposal. Ignore income taxes. Journal entry descriptions are optional.

On March 1, 2020, Merk Ltd. acquired 2,000 shares of Hoi Co. for $70,000. This investment represents a 30% interest in Hoi Co. and Merk Ltd. has a significant influence. On November 30, 2020, Hoi Co. paid a $35,000 dividend to its shareholders. At February 28, 2021 Hoi Co.'s shares were valued at $40 per share and Hoi Co. reported net income of $150,000 for the year. On April 15, 2021, Merk Ltd. sold the shares for $116,000. Both Merk Ltd. and Hoi Co. have February 28, 2021 year-ends.

Required: Prepare dated journal entries for the investment on the acquiring company's books from acquisition to disposal. Ignore income taxes. Journal entry descriptions are optional.