QUESTION 4 P. Co buys 90% shares in S Co. on Jan 20x1 for $180,000. On the date of acquisition, the equity of P and S were as follows Owners' Equity 500,000 200,000 What is the correct consolidating journal entry on Jan 1, 20X1? Debit Investment in S, and credit cash $200,000 Debit investment in S, and credit Bonds Payable $180,000 Debit Investment in S, and credit cash $180,000 Debit Owners Equity and credit Investment in S $180,000 QUESTION 5