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There are 6 parts, 4 to be recorded. Please tell me the answers for the recording entries. Black Equipment Corporation acquired the following equity investments

There are 6 parts, 4 to be recorded. Please tell me the answers for the recording entries.image text in transcribed

Black Equipment Corporation acquired the following equity investments at the beginning of Year 1 . Black does not have significant influence over the investees. Both companies are publicly traded. (Click the icon to view the equity investments.) Share prices at the end of Years 1 and 2 are presented below. (Click the icon to view the share prices at the end of years 1 and 2.) Read the requirements. Requirement a. Prepare the journal entry to record the acquisition of the investments. (Prepare a single compound entry. Record debits first, then credits. Exclude explanations from any journal entries Data table Data table Requirements a. Prepare the journal entry to record the acquisition of the investments. b. Prepare the journal entry to record the end of Year 1 fair value adjustment. c. Assume that Black sells 5,600 Harmes Company shares for $53 per share at the beginning of Year 2. Prepare the journal entry required to record the sale. Black does not correct the fair value adjustment account at this time. d. Prepare the journal entry to record the end of Year 2 fair value adjustment

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