assume an investor company acquires for $300,000 an 10% investment in the common stock of...
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Accounting
Assume an investor company acquires for $300,000 an 10% investment in the common stock of an investee company on February 15, 2021. The investor determined the common stock of the investee has a readily determinable fair value. On December 31, 2021, the fair value of the 10% common stock investment is $320,000, and the investor company made made all of the appropriate adjustments in preparation of the annual financial statements. On March 1, 2022, the investor company acquires an additional 15% of common stock of the investee for $600,000, thereby increasing the investor's overall ownership interest to 25%. Required a. Prepare the journal entries the investor company should record on March 1, 2022. Note: If a journal entry
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