this is all one question split into parts. thank you
As a long term investment, Painters' Equipment Company purchased 20% of AMC Supplies Inc's 500,000 shares for $580,000 at the beginning of the fiscal year of both companies. On the purchase date, the fair value and book value of AMC's net assets were equal. During the year. AMC earned net income of $350,000 and distributed cash dividends of 25 cents per share. At year-end, the fair value of the shares is $615,000. quired: Assume no significant influence was acquired. Prepare the appropriate joumal entries from the purchase through the end of the ar. (If no entry is required for o transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet 2 4 Record the purchase of AMC Supplies shares for $580,000 as a long-term investment. Note: Enter debits before credits. As a long-term investment, Painters' Equipment Company purchased 20% of AMC Supplies In $580,000 at the beginning of the fiscal year of both companies. On the purchase date, the fai AMC's net assets were equal. During the year, AMC earned net income of $350,000 and distri cents per share. At year-end, the fair value of the shares is $615,000. equired: Assume no significant influence was acquired. Prepare the appropriate journal entries from the pur ear. (If no entry is required for a transaction/event, select "No journal entry required" in the first Journal entry worksheet Record Painters' Equipment's share of AMC Supplies' $350,000 net income. Note: Enter debits before credits. Journal entry worksheet Record the cash dividend of 25 cents per share. Note: Enter debits before credits. Journal entry worksheet Record any necessary year-end adjusting journal entry when the fair value of the shares held are $615,000. Note: Enter debits before credits. As a long-term investment, Painters' Equipment Company purchased 20% of AMC Supplies Inc's 500,000 shares for $580,000 at the beginning of the fiscal year of both companies. On the purchase date, the fair value and book value of AMC's net assets were equal. During the year, AMC earned net income of $350,000 and distributed cash dividends of 25 cents per share. At year-end, the fair value of the shares is $615,000. 2. Assume significant influence was acquired. Prepare the appropriate journal entries from the purchase through the end of the year. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet 4 > Record the purchase of AMC Supplies shares for $580,000 as a long-term investment. Note: Enter debits before credits 2. Assume significant influence was acquired. Prepare the appropriate journal entries from the (If no entry is required for a transaction/event, select "No journal entry required" in the first a Journal entry worksheet Record Painters' Equipment's share of AMC Supplies' $350,000 net income. Note: Enter debits before credits. 2. Assume significant influence was acquired. Prepare the appropriate journal entries from the pu (If no entry is required for a transaction/event, select "No journal entry required" in the first ac Journal entry worksheet 1 4 Record the cash dividend of 25 cents per share. Note: Enter debits before credits. 2. Assume significant influence was acquired. Prepare the appropriate journal entries from the (If no entry is required for a transaction/event, select "No journal entry required" in the first Journal entry worksheet Record any necessary year-end adjusting journal entry when the fair value of the shares held are $615,000 at year-end. Note: Enter debits before credits