Record the amortization of the trademark on Pit's books. Note: if no entry is required for a transmetion/event, select "No journal entry required" in the first account field. Journal entry worksheet Record the entry to amortize the trademark for 201. Note: Enter debits before credits: Complete this question by entering your answers in the tabs below. Prepare the entries to record Pit's equity in the net income of Shames and the parent's share of the translation adjustment. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Newer Eeter denits betere ceaits: Complete this question by entering your answers in the tabs below. Prepare the entries to record Pit's equity in the net income of Shames and the parent's share of the translation adjustment: Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account, field. Journal entry worksheet Record the parent's share of subsidiary's translation adjustment. Note: Inter debits before credits. Record the dividend received by Pit from Shames. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Show a calculation of the differential reported on the consolidated balance sheet of December 31,208, and the translation adjustment from differential. Note: Amounts to be deducted should be entered with a minus sign. If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Show less A Journal entry worksheet Record the entry to recognize the translation adjustment for increase in the differential. Note: Enter debits before credits. Complete this question by entering your answers in the tabs below. Show a calculation of the differential reported on the consolidated balance sheet of December 31,20x8, and the translation adjustment from differential. Note: Amounts to be deducted should be enteted with a minus sign. If no entry is required for a transaction/event, select "No journal entry required in the first account field. Shames Company is located in London, England. The local currency is the British pound (f) On January 1,20X8, Pit Company purchased an 80 percent interest in Shames for $409,000, which resulted in an excess of cost-over-book value of $16,000 due solely to a trademark having a remaining life of 10 years. Pit uses the equity method to account for its investment. Shames's December 31.20X8, trial balance has been translated into US. dollars, requiring a translation adjustment debit of $6,700. Shames's net income translated into U.S dollars is $63,000 it declared and paid a $16,000 dividend on May 1,20X8 Relevant exchange rates are as follows. Required: a. Record the dividend recelved by Pit from Shomes b. Prepare the entries to record Pir's equity in the net income of Shames and the parent's share of the translation adjustment. c. Show o calculation of the differential reported on the consolidoted balance sheet of December 31, 20 8 , and the translation adjustment from differential d. Record the amortization of the trademark on Pit's books. e. Calculate the amount of the translation adjustment reported on the stotement of comprehensive income as an element of other comprehensive income
