Question
Round reported net income of $87,000 for 20X2 and paid dividends of $33,000. Required: a. Give the journal entries recorded by Trim Corporation during
Round reported net income of $87,000 for 20X2 and paid dividends of $33,000. Required: a. Give the journal entries recorded by Trim Corporation during 20X2 on its books if Trim accounts for its investment in Round using the equity method. b. Give the consolidation entries needed at December 31, 20X2, to prepare consolidated financial statements. Complete this question by entering your answers in the tabs below. Required A Required B Give the journal entries recorded by Trim Corporation during 20X2 on its books if Trim accounts for its investment in Round using the equity method. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. view transaction list Consolidation Worksheet Entries A B Record the initial investment in Round Corporation. Note: Enter debits before credits. Event 1 General Journal Debit Credit >
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