Please fill out tables with the options below

Requirements 1. What method should Southern Motors use to account for the investment in Diesel Motors? Give your reasoning. 2. Journalize all required 2024 transactions related to Southern Motors's Diesel investment. Include an explanation for each entry. 3. Post all 2024 transactions to the investment T-account. What is its balance after all the transactions are posted? How would this balance be classified on the balance sheet dated December 31, 2024 ? cash dividends of $20,000,000 to all outstanding stockholders during 2024. (Assume all outstanding stock is voting stock.) Read the requirements. Requirement 1. What method should Southern Motors use to account for the investment in Diesel Motors? Give your reasoning. Southern Motors should use the method to account for its investment in Diesel Motors because the investment table. If no entry is required, sele Southern Motors paid $450,000,C ted to Southern Motors's Diesel investment. Include an explanation for each entry. (Record debits first, then credits. Select the explanation on the last line of the journal entry first line of the Accounts and Explanation column and leave the remaining cells blank.) Diesel Motors. Requirement 1. What method should Southern Motors use to account for the investment in Diesel Motors? Give your reasoning. Southern Motors should use the method to account for its investment in Diesel Motors because the investment creates a parent-subsidiary relationship between Southern Motors and Diesel Motors. in Diesel is a debt security that Southern Motors plans to hold to maturity. represents a 30% ownership of Diesel Motors and Southern Motors has significant influence over Diesel Motors. Explanation column and leave the remaining cells blank.) Southern Motors paid $450,000,000 for its 30% investment in Diesel Motors. \begin{tabular}{|c|c|c|c|} \hline Date & Accounts and Explanation & Debit & Credit \\ \hline \multicolumn{4}{|l|}{2024} \\ \hline \multicolumn{4}{|l|}{ Jan. 6} \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} Diesel paid cash dividends of \$20,000,000 to all outstanding shareholders during 2024 . \begin{tabular}{|c|c|c|c|} \hline Date & Accounts and Explanation & Debit & Credit \\ \hline \multicolumn{4}{|l|}{2024} \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} Diesel earned net income of $25,000,000 during 2024 . \begin{tabular}{|c|c|c|c|} \hline Date & Accounts and Explanation & Debit & Credit \\ \hline \multicolumn{4}{|l|}{2024} \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} No entry required Available-for-Sale Debt Investment Cash Dividend Revenue Equity Investments-Diesel Motors Fair Value Adjustment_Available-for-Sale Fair Value Adjustment-Equity Investments Fair Value Adjustment-Held-to-Maturity Fair Value Adjustment-Trading Gain on Disposal Held-to-Matuirty Debt Investments Interest Revenue Loss on Disposal Revenue from Investments Trading Debt Investments Unrealized Holding Gain_Available-for-Sale Unrealized Holding Gain-Equity Investments Unrealized Holding Gain-Held-to-Matuirty Unrealized Holding Gain-Trading Unrealized Holding Loss-Available-for-Sale Unrealized Holding Loss-Equity Investments Unrealized Holding Loss-Held-to-Matuirty Unrealized Holding Loss_-Trading