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Please help me find the correct Account Titles from the list below! Thank you! Your answer is partially correct. Try again On January 1, 2017,
Please help me find the correct Account Titles from the list below! Thank you!
Your answer is partially correct. Try again On January 1, 2017, Ivanhoe Corporation purchased 30% of the common shares of Shamrock Company for $182,000. During the year, Shamrock earned net income of $95,000 and paid dividends of $23,750 Prepare the entries for Ivanhoe to record the purchase and any additional entries related to this investment in Shamrock Company in 2017. (Credit account titles are automatically indented when amount is entered Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit Common Stock 182000 Cash 182000 To record purchase of stock.) Cash 7125 Common Stock 7125 (To record receipt of dividends.) Common Stock 28500 Dividend Revenue 28500 (To record revenue.) Accumulated Other Comprehensive Loss Allowance for Loss on Debt Investment Bonds Payable Cash Call Option Common Stock Cost of Goods Sold Debt Investments Dividend Revenue Dividend Receivable Equity Investments Fair Value Adjustment Futures Contract Gain on Sale of Investments Gain on Settlement of Call Option Gain on Settlement of Put Option Interest Expense Interest Receivable Interest Revenue Inventory Investment Income Loss on Impairment Loss on Sale of Investments Loss on Settlement of Call Option Loss on Settlement of Put Option No Entry Notes Payable Paid-in Capital in Excess of Par - Common Stock Put Option Recovery of Loss from Impairment Retained Earnings Sales Revenue Swap Contract Unrealized Holding Gain or Loss - Equity Unrealized Holding Gain or Loss - IncomeStep by Step Solution
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