1. Prepare the appropriate journal entries to recognize the first quarter transactions, currently reported in Other Assets - Holding in the balance sheet of Java the Hut (Parent Company) outlined in Schedule 1. The goal of the journal entries is to eliminate the balance in the Other Asset-Holding account with new accounts to reflect the appropriate accounting recognition.
2.  

Schedule 1 Java the Hut Account Analysis Other Assets - Holding Account Analysis as of 3/31/18 Acquisition of New Castle Coffee on 1/1/18 Stock acquisition of 1,000 shares outstanding (Par Value $1.00) Percent of shares outstanding Purchase price atsettlement Professional fees incurred Debt set-up fees (revolving credit agreement) Acquisition of New Castle Coffee on 1/1/18 Equity investment in Newark Coffee Activity Purchase of 40% interest of shares outstanding 1/1 Dividends received on 3/1 in cash Equity investment in Newark Coffee Activity Other Assets - Holding Account Analysis as of 3/31/18 CASASA $ S 100% CA 150,000 12,000 6,000 1ss,000 wwwwwwww I $ 44,000 $ (2,000) Is 42,000 Is 210.000