Learning Goal: I’m working on a accounting question and need an explanation and answer to help me learn.
I will attach the questions some of the questions is answered but I need T accounts to show the instructor how did I answer the questions please just 1 page of pdf with T accounts.
Please submit ONE PDF file containing your handwritten calculations for the CH 1 Connect Homework (no JPEG or HEIC picture files). Questions should be in order and each question should be clearly labeled with your final answer circled. highlighted.
Also, for chapter 1 homework, Q9, please watch the dates. We acquired 5% at the end of 2019, acquired an additional 25% at the end of 2020, but DURING 2020 we did not have >20% ownership (significant influence) so we could not use the equity method to account for our investment. Therefore as of 12/31/2020 we were still using FV method to account for our investment. This impacts your answer to part 1B. Adjust the investment to FV as of 12/31/2020 and then begin using the equity method for the year 2021.
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