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please kindly help ne with this need to submit it thank you and Investor Company owns 80% of Investee Company's for 58,000. The following are

please kindly help ne with this need to submit it thank you
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Investor Company owns 80% of Investee Company's for 58,000. The following are the balance sheets of Investor Company and Investee Company. The investment in Investee Company in the unconsolidated balance sheet of Investor Company is accounted using the equity method.

Investor Company

Investee Company

Adjustment

Consolidated Company

Current Assets

$41,000

$33,000

Investment

58,000

Other Assets

144,000

54,000

Goodwill

Total Assets

$243,000

$87,000

Liabilities

$95,000

$27,000

Common Stock

70,000

32,000

Retained Earnings

78,000

28,000

Non-controlling interest

Total Liabilities and Equity

$243,000

$87,000

Required:

Prepare the consolidated balance sheet for Investor Company by completing the following table.

Sunnyside Industries acquired common stock of Mooney, Inc. as an investment. Consider the following transactions. 2020: Purchase 4,000 of the common shares of Moony, Inc. for $16.00 cash per. Moony reports earnings per share of $2.50. Sunnyside receives a cash dividend of $1.90 per share from Moony, Inc. Year-end market price of Moony is $18.00 per share 2021: Sell all 4,000 shares for $16.50 per share. Required: 1) Prepare journal entries to record the above transactions, assuming that the investment in Mooney's shares is classified as passive investment in marketable securities and fair value through net income method is used. 2) Prepare journal entries to record the above transactions, assuming that the investment in Mooney's shares is classified as investment with significant influence and equity method is used

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