Prepare the journal entries for Bramble for $2022$ and $2023,$ assuming that Bramble cannot exercise significant influence over

Gregson. The investment is accounted for using the FV$-$OCI model. $($Credit account titles are automatically indented when the 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. Record

entries in the order displayed in the problem statement. List all debit entries before credit entries.$)$

Date

Account Titles and Explanation

Debit

Credit

eTextbook and MediaBramble Inc. acquired $20\%$ of the outstanding common shares of Gregson Inc. on December $31,2022.$ The purchase price was

$$1,000,000$ for $50,000$ shares and is equal to $20\%$ of Gregson's carrying amount. Gregson declared and paid a $$0\mathrm{.}85$ per share cash

dividend on June $15$ and again on December $15,2023.$ Gregson reported net income of $$545,000$ for $2023.$ The fair value of Gregson's

shares was $$25$ per share at December $31,2023.$ Bramble is a public company and applies IFRS.

$($a$)$

Prepare the journal entries for Bramble for $2022$ and $2023,$ assuming that Bramble cannot exercise significant influence over

Gregson. The investment is accounted for using the FV$-$OCI model. $($Credit account titles are automatically indented when the 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. Record

entries in the order displayed in the problem statement. List all debit entries before credit entries.$)$

Date

Account Titles and Explanation

Debit

Credit