Required:\ Assume a

40%

tax rate.\ (a) Prepare X Co.'s equity method journal entries subsequent to the date of acquisition for each of Years 3 and 4. (Input all values as positive numbers. If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Input all values as positive numbers.)\ Year 3\ \\\\table[[,No,S.No,General Journal,Debit],[0,A,1,Cash,],[,,Investment in Y Co.,],[,,3,],[1,

B

,2,Investment in Y Co.,],[,,Equity method income,]]

Required: Assume a 40% tax rate. (a) Prepare X Co.'s equity method journal entries subsequent to the date of acquisition for each of Years 3 and 4. (Input all values as positive numbers. If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Input all values as positive numbers.) Required: Assume a 40% tax rate. (a) Prepare X Co.'s equity method journal entries subsequent to the date of acquisition for each of Years 3 and 4. (Input all values as positive numbers. If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Input all values as positive numbers.)