Question completion Status A Moving to another than will the repor Question 1 On January 1, 2020, Jolley Corporation purchased 30,000 shares of Tige Company common tor 0.00025 over Tige On that date the book value of Tige was $1.950.000. A building with a caring van of $300.000 was worth 520.000. The game trademark valued at $280,000 over cost that was to be amored over 3 years Tige reported net income of $450,000 during 2020 and declared and paid dividends of $170.000 On January 1, 2021. Jolley Corp. solls 40,000 shares of this investment for 14 per share Required: a) Prepare all of Jolley's journal entries for 2020 in relation to its investment in Tign Co b) Prep Jolley's journal entry on January 1, 2021 to record the sale of the 40,000 shares For the toolbar.press ALTIFO (POR ALTIINIHOM B IVS A 11 IEEVA LIXO x' X 32 TIT EN HER + 9B V emaining Time: 56 minutes, 15 seconde Question Completion Status: Moving to another question will save this response Question 1 On January 1, 2020, Jolley Corporation purchased 80,000 shares of Tige Company common stock 2.0, photo over Tige. On that date, the book value of Tige was $1,950,000. A building with a carrying value of $380,000 was won 20.000 The trademark valued at $280,000 over cost that was to be amortized over 8 years Tige reported net income of $450,000 during 2020 and declared and paid dividends of $170,000 On January 1, 2021, Jolley Corp. sells 40,000 shares of this investment for $14 per share Required: a) Prepare all of Jolley's journal entries for 2020 in relation to its investment in Tige Co. b) Prepare the Jolley's journal entry on January 1, 2021 to record the sale of the 40.000 shares. For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). T BI V S 10pt Arial Paragraph E x 65. 1 x? X + . v E 1 -- ve the impon Question its Corporation purchased 80,000 shares of Tige Company common stock for $800,000, giving Jolley 25 percent ownership and the ability to apply significant influence book value of Tiga was $1.950,000. A building with a carrying value of $380,000 was worth $520,000. The building had a remaining life of ten years. Tign owned a 00 over cost that was to be amortized over 8 years 5450,000 during 2020 and declared and paid dividends of $170,000 op sells 40,000 shares of this investment for $14 por share entries for 2020 in relation to its investment in Tige Co. try on January 1, 2021 to record the sale of the 40,000 shares TFN F10 (Mac Arial 10pt T. X60 Q FT EH + {t) O WORDS POWERED BY TINY hp