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The first page is the question and the second is the solution. Can you please explain to me the meaning of each entry and how
The first page is the question and the second is the solution. Can you please explain to me the meaning of each entry and how we calculated the numbers. Thank you. 2, 100,000 FINANCIAL ACCOUNTING II On October 1, 2017, The Dontfalemy Company purchased shares of the outstanding common stock (and percentage of ownership) of the following companies: (0) the ABC Corp. for $2,100,000 (10%); (ii) ABD, Inc. for $3.720,000 (29); (iii) The ABE Co. for $2,570,000 (8%); and (iv) the ABF Corporation for $3,360,000 (30%). As of December 31, 2017, Dontfalemy had the following data for the companies in which it had invested: Total Market Value of Each Company's Each Company's Company 864,000 21 1,210,000 600 $ 26,500,000:2,45,000-2,00,06so000 ABC ABD ABE ABF 179,500,000 ; 3,5-3,00-3Ma,?30 35,500,000:,640,000-1,0021000 12,200,000 -3, 922,000 2,300,000 122,50 In addition, it received checks on December 31, for dividends from each investee as follows: Dividends Received ABC ABD ABE ABF $75,000 30,000 62,000 121,000 What journal entries did Donfalemy make with regard to its investments as of December 31, 2017
The first page is the question and the second is the solution. Can you please explain to me the meaning of each entry and how we calculated the numbers. Thank you.
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