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Sandhill Group acquired 20% of the outstanding ordinary shares of Cho Ltd on December 31, 2022. The purchase price was 103,180.000 for 46,900 shares. Cho
Sandhill Group acquired 20% of the outstanding ordinary shares of Cho Ltd on December 31, 2022. The purchase price was 103,180.000 for 46,900 shares. Cho declared and paid an VB0 per share cash dividend on June 30 and on December 31, 2023. Cho reported net income of 71,400,000 for 2023. The fair value of Cho's shares was 12,400 per share at December 31, 2023. Prepare the journal entries for Sandhill for 2022 and 2023, assuming that Sandhill can exercise significant influence over Cho. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit (To record dividend.) (To record revenue.)
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