please post it couple of time answers are incorrect
Prince Corporation acquired 100 percent of Sword Company on January 1, 20X7 for $192.000. The trial balances for the two companies on December 31, 20X7 included the following amounts: Additional information 1. On January 1, 20XT Sword reported with a book value of $135 000 A total of $23.000 of the acquisition price is applied to goodwill, which was not paredin 20x7 2. Swords depreciate had an estimated economice of 11 years on the date of combination. The difference between fair value and book value of tangible assets is related entirely to buildings and equipment 3. Prince used the equity method in accounting for its investment in Sword 4 Detailed analysis of receivables and payables showed that Sword Owed Prince $21.000 on December 31, 20X7 Required: a. Prepare wil joumal entries recorded by Prince with regard to its investment in Sword during 20X7 (no entry is required for a transaction event select "No journal entry required in the first account field.) A-RECORD THE INITIAL INVESTMENT IN SWORD Co. Investment in Sword Co Cash B-RECORD PRINCE CORP'S SHARE OF SWORD CO'S 2017 INCOME Investment in Sword Co Income from Sword Co C-RECORD PRINCE CORP'S SHARE OF SWORD CO'S 2017 DIVIDEND Cash Investment in Sword Co D-RECORD THE AMORTIZATION OF THE EXCESS ACQUISITION PRICE. Income from Sword Co Investment in Sword Co Prince Corporation acquired 100 percent of Sword Company on January 1, 20X7 for $192.000. The trial balances for the two companies on December 31, 20X7 included the following amounts: Additional information 1. On January 1, 20XT Sword reported with a book value of $135 000 A total of $23.000 of the acquisition price is applied to goodwill, which was not paredin 20x7 2. Swords depreciate had an estimated economice of 11 years on the date of combination. The difference between fair value and book value of tangible assets is related entirely to buildings and equipment 3. Prince used the equity method in accounting for its investment in Sword 4 Detailed analysis of receivables and payables showed that Sword Owed Prince $21.000 on December 31, 20X7 Required: a. Prepare wil joumal entries recorded by Prince with regard to its investment in Sword during 20X7 (no entry is required for a transaction event select "No journal entry required in the first account field.) A-RECORD THE INITIAL INVESTMENT IN SWORD Co. Investment in Sword Co Cash B-RECORD PRINCE CORP'S SHARE OF SWORD CO'S 2017 INCOME Investment in Sword Co Income from Sword Co C-RECORD PRINCE CORP'S SHARE OF SWORD CO'S 2017 DIVIDEND Cash Investment in Sword Co D-RECORD THE AMORTIZATION OF THE EXCESS ACQUISITION PRICE. Income from Sword Co Investment in Sword Co
