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show work the models that were initially chosen be P12-6B Cassidy Concrete Corp. acquired 20% of Enda Inc.s common shares on January 1, 2018, by
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the models that were initially chosen be P12-6B Cassidy Concrete Corp. acquired 20% of Enda Inc.s common shares on January 1, 2018, by paying $6 million Record str for 200,000 shares. Enda declared a $0.50-per-share cash dividend, which Cassidy received on June 30 and again on investmen December 31. Enda reported net income of $3,360,000 for the year. At December 31, the market price of the Enda shares (LO 2,3,- was $31 per share. Instructions (a) Prepare the journal entries for Cassidy Concrete for 2018, assuming Cassidy cannot exercise significant influence over Enda and uses the fair value through profit or loss model. (b) Prepare the journal entries for Cassidy Concrete for 2018, assuming Cassidy can exercise significant influence over Enda and uses the equity method. the models that were initially chosen be P12-6B Cassidy Concrete Corp. acquired 20% of Enda Inc.s common shares on January 1, 2018, by paying $6 million Record str for 200,000 shares. Enda declared a $0.50-per-share cash dividend, which Cassidy received on June 30 and again on investmen December 31. Enda reported net income of $3,360,000 for the year. At December 31, the market price of the Enda shares (LO 2,3,- was $31 per share. Instructions (a) Prepare the journal entries for Cassidy Concrete for 2018, assuming Cassidy cannot exercise significant influence over Enda and uses the fair value through profit or loss model. (b) Prepare the journal entries for Cassidy Concrete for 2018, assuming Cassidy can exercise significant influence over Enda and uses the equity methodStep by Step Solution
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