Part A: For the fiscal year ended March 31, 2020, X Company, the 80%-owned subsidiary of Y Corporation, had a net income of $600,000 and declared and paid dividends of $200,000. The fiscal Year 2020 depreciation and amortization of differences between current fair values and carrying amounts of Xs identifiable net assets was $30,000, and the Fiscal Year 2020 impairment of goodwill recognized in the business combination was $1,000.Instructions: Prepare journal entries for Y Corporation to record the Fiscal Year 2020 operating results of X Company under the equity method. Part B: Included in the accounting records of the home office and the only branch, respectively, of Hamad Company were the following ledger accounts for June 2020: Investment in Ali BranchDateExplanationDebitCreditBalance2020May 31Balance51,000 drJune 6Shipment of merchandise30,50081,500 dr 20Receipt of cash11,50070,000 dr 26Collection of branch trade account receivable9,000 161,000 dr 30Shipment of merchandise24,000 285,000 dr Home OfficeDateExplanationDebitCreditBalance2020May 31Balance 51,000 cr June 8Receipt of merchandise 30,50081,500 cr 18Payment of cash11,50070,000 cr 27Acquisition of office equipment14,500 355,500 cr 30Payment of cash22,000 433,500 cr Instructions: Prepare journal entries on June 30, 2020, for the (1) home office, and (2) Ali Branch of Hamad Company. The branch uses the perpetual inventory system.

You have two parts, A and B