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Required information [ The following information applies to the questions displayed below. ] Selk Steel Company, which began operations in Year 1 , had the
Required information
The following information applies to the questions displayed below.
Selk Steel Company, which began operations in Year had the following transactions and events in its longter investments.
Year
January Selk purchased shares of total of Kildaire's common stock for $
October Kildaire declared and paid a cash dividend of $ per share.
December Kildaire's net income for the year is $ and the fair value of its stock at December per share.
Year
October Kildaire declared and paid a cash dividend of $ per share.
December Kildaire's net income for the year is $ and the fair value of its stock at December per share.
Year
January Selk sold equal to shares of its investment in Kildaire for $ cash.
quired:
epare journal entries to record these transactions and events for Selk. Assume that Selk has a sianificant influn
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