These are 2 different questions

Accumulated Depreciation Accounts Payable Mortgages Payable Common Stock Retained Earnings Siles Income from Sheet Company $ 155,000 70,000 700,000 300,000 290,000 700.NO 45,00 $1,760.000 $75,000 35.000 50,000 50,000 100,000 400,000 31,760,000 $710,000 $710.000 Additional Information 1 On January 1, 20x7. Sheet reported net assets with a book value of $150,000 and a fair value of $191,250 Accumulated depreciation on Buildings and Equipment was $60,000 on the acquisition date 2 Sheet's depreciable assets had an estimated economic life of tl years on the date of combination Goodwill of $25,000 was recorded at the acquisition 3. Pillow used the equity method in accounting for its investment in Sheet 4 Detailed analysis of receivables and payables showed that Sheet owed Pillow $15,000 on December 31 20x7 Required: a. Prepare all journal entries recorded by Pillow with regard to its investment in Sheet during 20x7 (if no entry is required for a transaction/event, select "No journal entry required in the first account field.) Additional Information 1 On January 1, 20X7, Sheet reported net assets with a book value of $150,000 and a fair value of $191,250. Goodwill of $25,000 was recorded at the acquisition. Accumulated depreciation on buildings and equipment was $60,000 on the acquisition date Sheet's depreciable assets had an estimated economic life of 11 years on the date of combination 2. At December 31, 20x8, Pillow's management reviewed the amount attributed to goodwill and concluded goodwill was impaired and should be reduced to $14.000 Goodwill and goodwill impairment were assigned proportionately to the controlling and noncontrolling shareholders. 3. Pillow used the equity method in accounting for its investment in Sheet 4 Detailed analysis of receivables and payables showed that Pillow owed Sheet $9.000 on December 31, 20x8. 5. Assume that the investment in Sheet Company at 1/1/X8 is $202,000. Required: a. Prepare all journal entries recorded by Pillow with regard to its investment in Sheet during 20x8.(if no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list View journal entry worksheet Event Debit Credit No 1 Guneral Journal Investment in Sheet Company Income from Sheat Company 4.200 15.200 B 20.000 Cash Investment in Sheet Company 20.000