PLEASE SHOW YOUR WORK

Parent bought some of the shares in Subsidiary on December 31, 20X0. 90,000 81,000 15.00 12,100 Parts A and B are independent of each other. Original purchase of Subsidiary's stock Number of shares outstanding Shares acquired Cost per share Amortization of 100% of excess Subsidiary's information for 20X1 Subsidiary's income Subsidiary's dividends $ 78,000 11,700 Round your ownership to two percentage points (e.g., 84.0% instead of 84.246%) Part A. On January 1, 20X2, Subsidiary issued additional shares to the market as indicated below. Parent did not purchase the shares Issuance of new shares by Subsidiary Number of additional shares issued 5,000 Issue price per share Journalize the entry recorded by Parent when Subsidiary issues additional shares to the market $ 20.00 Complete the chart for 20x2 given the following information Subsidiary amounts in 20X2 Income 87,000 Dividends 13,000 Parent's income (cost method) 186,000 Minority interest income Consolidated income Minority interest equity Part B. On January 1, 20x2, Parent sold some of the shares as indicated below. Shares sold by Parent 18,000 Sales price 20.00 Journalize the entry to record the sale of shares by Parent