Question 33 Assuming that the 35.000 shares represent a 10% interest in Paxton Corporation: 1Prepare the journal entry to record the investment in Paxton stock. 2. Prepare any entries that Rosco Company should make in accounting for its investment in Paxton stock during the year. 1. What is the balance of the Stock Investments account on Rosco Company's books at the end of the year? (Credit account titles are automaticaly indented when the amount is entered. Do not indeat manually) No. Account Tities and Explanation Cost Method 2. 3. Stock Investments account balance hi y & Practice Gradebook ORION Downloadable eTextbook Assuming that the 35,000 shares represent a 20% interest in Paxton Corporation 1. Prepare the journal entry to record the investment in Paxton stock 2. Prepare any entries that Rosco Company should make in accounting for its investment in Paxton stock during the year 3. What is the balance of the Stock Investments account on Rosco Company's books at the end of the year? (Credit account titles are automatically indented when the amount is entered. Do not indent manually Date Account Titles and Explanation Debit Credit Equity Method (To record purchase of 35,000 shares of Paxton's Corporation stock 2. (To record 20% equity in Pacton's net income) (To record dividends received 3. Stock Investments account balance ll rights Reserved A Division of Jobo.wi WELCOME DESK REMI