Problem 16-04A a-c

Heidebrecht Design acquired 20% of the outstanding common stock of Blossom Company on January 1, 2020, by paying $600,000 for the 40,000 shares. Blossom declared and paid $0.20 per share cash dividends on March 15, June 15, September 15, and December 15, 2020. Blossom reported net income of $300,000 for the year. At December 31, 2020, the market price of Blossom common stock was $25 per share.

Problem 16-04A ac Heidebrecht Design acquired 20% of the outstanding common stock of Blossom Company on January 1, 2020, by paying $600,000 for the 40,000 shares. Bloom decared and paid $0.20 per share canh dividends on March 15, June 15. September 15, and December 15, 2020. Blossom reported net income of $300,000 for the year. At December 31, 2020, the market price of Blossom common stock was $25 per share. Prepare the journal entries for Holdebrecht Design for 2020 assuming Heidebrecht Design cannot exercise significant influence over Blossom (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Prepare the journal entries for Heldebrecht Design for 2020 asuming Heidebrecht Denion cannot exercise significant influence over Blossom. (Record journal entries in the order pre Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry for the account titles and Date Account Titles and Explanation Debit Credit CALCULATON FULL SCREEN PORTER Prepare the journal entries for Heidebrecht Design for 2020, assuming Holdebrecht Design can cause significant influence over Blossom. Use the ulty method. (Record journal entries in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry for the account it amounts.) Date Account Titles and Explanation Debit Credit Indicate the balance sheet and income statement account balances at December 31, 2020, under each method of accounting. Cost Method Equity Method Stock Investments $ $ Dividend revenue Unrealized gain income Revenue from stock investments SLOW LIST OF ACCOUNTS