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S. a) On January 1, 2022, XYZ Co. purchased 30% of Raider Inc.'s voting stock for $420,000 at $30 p/share. Prepare the necessary journal entry.
S. a) On January 1, 2022, XYZ Co. purchased 30% of Raider Inc.'s voting stock for $420,000 at $30 p/share. Prepare the necessary journal entry. b) At December 31, 2022, Raider Inc. reported $150,000 of Net Income for the period. Our share was $45,000. Prepare the necessary journal entry. c) At December 31, 2022 the shares of Raider Inc. in our portfolio had a fair value of $468,000. Prepare a journal entry for this change in fair value - if necessary. d) On January 20, 2023, Raider Inc. announced and paid a cash dividend of $65,000 - our share $19,500. Prepare the necessary journal entry. 1) At December 31, 2023, Raider Inc reported a Net Loss of $86,000 - our share $25.800. Prepare the journal entry
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