Situation 1 Wildhorse Tables acquired 1 5 of the 4 , 6 0 0 , 0 0 0 shares of common stock of Robot Sofas at a total cost of $ 8 1 0 per share on April 1 , 2 0 2 5 On August 8 , Robot Sofas declared and paid a $ 2 5 3 , 0 0 0 cash dividend On December 3 1 , Robot Sofas market price was $ 8 6 0 per share and the company reported net income of $ 6 9 8 , 0 0 0 for the year Situation 2 On January 1 , 2 0 2 5 , Indigo Company purchased 4 0 of Santos Corporation 4 7 1 , 0 0 0 outstanding shares of common stock at a total cost of $ 1 3 per share On October 2 5 , Santos declared and paid a cash dividend of $ 0 4 0 per share On December 3 1 , Santos reported a net income of $ 8 9 5 , 0 0 0 for the year and the market price of its common stock was $ 1 4 per share Prepare all necessary journal entries in 2 0 2 5 for both situations ( Credit account titles are automatically indented when the amount is entered Do not indent manually If no entry is required, select No Entry for the account titles and enter 0 for the amounts List all debit entries before credit entries Record journal entries in the order presented in the problem ) Date Account Titles and Explanation Debit Credit Situation 1 Wildhorse Tables choose a transaction date Jan 1 , 2 0 2 5 Apr 1 , 2 0 2 5 Aug 8 , 2 0 2 5 Oct 2 5 , 2 0 2 5 Dec 3 1 , 2 0 2 5 enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount choose a transaction date Jan 1 , 2 0 2 5 Apr 1 , 2 0 2 5 Aug 8 , 2 0 2 5 Oct 2 5 , 2 0 2 5 Dec 3 1 , 2 0 2 5 enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount choose a transaction date Jan 1 , 2 0 2 5 Apr 1 , 2 0 2 5 Aug 8 , 2 0 2 5 Oct 2 5 , 2 0 2 5 Dec 3 1 , 2 0 2 5 enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount Situation 2 Indigo Company choose a transaction date Jan 1 , 2 0 2 5 Apr 1 , 2 0 2 5 Aug 8 , 2 0 2 5 Oct 2 5 , 2 0 2 5 Dec 3 1 , 2 0 2 5 enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount choose a transaction date Jan 1 , 2 0 2 5 Apr 1 , 2 0 2 5 Aug 8 , 2 0 2 5 Oct 2 5 , 2 0 2 5 Dec 3 1 , 2 0 2 5 enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount choose a transaction date Jan 1 , 2 0 2 5 Apr 1 , 2 0 2 5 Aug 8 , 2 0 2 5 Oct 2 5 , 2 0 2 5 Dec 3 1 , 2 0 2 5 enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount

Question

Situation 1 Wildhorse Tables acquired 1 5   of the 4 , 6 0 0 , 0 0 0 shares of common stock of Robot Sofas at a total cost of $ 8   1 0 per share on April 1 , 2 0 2 5   On August 8 , Robot Sofas declared and paid a $ 2 5 3 , 0 0 0 cash dividend  On December 3 1 , Robot Sofas market price was $ 8   6 0 per share and the company reported net income of $ 6 9 8 , 0 0 0 for the year  Situation 2 On January 1 , 2 0 2 5 , Indigo Company purchased 4 0   of Santos Corporation 4 7 1 , 0 0 0 outstanding shares of common stock at a total cost of $ 1 3 per share  On October 2 5 , Santos declared and paid a cash dividend of $ 0   4 0 per share  On December 3 1 , Santos reported a net income of $ 8 9 5 , 0 0 0 for the year and the market price of its common stock was $ 1 4 per share  Prepare all necessary journal entries in 2 0 2 5 for both situations  ( Credit account titles are automatically indented when the amount is entered  Do not indent manually  If no entry is required, select   No Entry  for the account titles and enter 0 for the amounts  List all debit entries before credit entries  Record journal entries in the order presented in the problem  ) Date Account Titles and Explanation Debit Credit Situation 1   Wildhorse Tables choose a transaction date Jan  1 , 2 0 2 5 Apr  1 , 2 0 2 5 Aug  8 , 2 0 2 5 Oct  2 5 , 2 0 2 5 Dec  3 1 , 2 0 2 5 enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount choose a transaction date Jan  1 , 2 0 2 5 Apr  1 , 2 0 2 5 Aug  8 , 2 0 2 5 Oct  2 5 , 2 0 2 5 Dec  3 1 , 2 0 2 5 enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount choose a transaction date Jan  1 , 2 0 2 5 Apr  1 , 2 0 2 5 Aug  8 , 2 0 2 5 Oct  2 5 , 2 0 2 5 Dec  3 1 , 2 0 2 5 enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount Situation 2   Indigo Company choose a transaction date Jan  1 , 2 0 2 5 Apr  1 , 2 0 2 5 Aug  8 , 2 0 2 5 Oct  2 5 , 2 0 2 5 Dec  3 1 , 2 0 2 5 enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount choose a transaction date Jan  1 , 2 0 2 5 Apr  1 , 2 0 2 5 Aug  8 , 2 0 2 5 Oct  2 5 , 2 0 2 5 Dec  3 1 , 2 0 2 5 enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount choose a transaction date Jan  1 , 2 0 2 5 Apr  1 , 2 0 2 5 Aug  8 , 2 0 2 5 Oct  2 5 , 2 0 2 5 Dec  3 1 , 2 0 2 5 enter an account title enter a debit amount enter a credit amount enter an account title enter a debit amount enter a credit amount

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Question

Situation 1 Wildhorse Tables acquired 1 5 % of the 4 , 6 0 0 , 0 0 0 shares of common stock of Robot

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