On January 1, Vince SpA purchased a 25% equity in Morelli SpA for 180,000. At...

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Accounting

On January 1, Vince SpA purchased a 25% equity in Morelli SpA for 180,000. At December 31, Morelli declared and paid a 36,000 cash dividend and reported net income of 160,000.Instructionsa. Journalize the transactions.b. Determine the amount to be reported as an investment in Morelli at December 31.

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