PROBLEM II / 20 POINTS SEACH On January 1, 2020, Bristol Company acquired 60 of Animation ding of $200.00 $210,000 cash. At that date, Animation reported earnings of $100,000, and the fair value of the noncontrollin and fair values of Animation's assets and liabilities were $50,000 greater than book value and an 8-year remaining quired 60 percent of Animation Company common stor ported common stock outstanding of $200,000 ant. e noncontrolling interest was 5140,000. The book abilities were equal, except for Patents which had a stock for re e book values ad a fait At December 3, At Decemba Animation purchased an available for sale se 2020, the fair value of the security was $50,000. For sale security on February 5, 2020 for $5,000. REQUIRED: [A] Record all journal entries Animation is 2020. Provide a date for your entries. ries Animation is required to record regarding the security investment durin +5 B Bristol Company uses the equity method to account for Record all any uses the equity method to account for its investment in Animation. es Bristol is required to record rewarding its investment in Animation in ZOZO. Assum Animation reported $67,000 net income and $13,500 cash dividends. journal entries Bristol is required to record regar bristol Company is preparing consolidated financial statement for 2020. Record ALL journal entries needed on a 3-part worksheet to facilitate the preparation of the 2020 consolidated financial statements. +10 PROBLEM II / 20 POINTS SEACH On January 1, 2020, Bristol Company acquired 60 of Animation ding of $200.00 $210,000 cash. At that date, Animation reported earnings of $100,000, and the fair value of the noncontrollin and fair values of Animation's assets and liabilities were $50,000 greater than book value and an 8-year remaining quired 60 percent of Animation Company common stor ported common stock outstanding of $200,000 ant. e noncontrolling interest was 5140,000. The book abilities were equal, except for Patents which had a stock for re e book values ad a fait At December 3, At Decemba Animation purchased an available for sale se 2020, the fair value of the security was $50,000. For sale security on February 5, 2020 for $5,000. REQUIRED: [A] Record all journal entries Animation is 2020. Provide a date for your entries. ries Animation is required to record regarding the security investment durin +5 B Bristol Company uses the equity method to account for Record all any uses the equity method to account for its investment in Animation. es Bristol is required to record rewarding its investment in Animation in ZOZO. Assum Animation reported $67,000 net income and $13,500 cash dividends. journal entries Bristol is required to record regar bristol Company is preparing consolidated financial statement for 2020. Record ALL journal entries needed on a 3-part worksheet to facilitate the preparation of the 2020 consolidated financial statements. +10