On January 1, 2022, ABC acquired 80% of XYZ voting shares for $200,000. As of that date,
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Question:
Required: 1) Provide the journal entries recorded by ABC during 2020 on its books if you account for your investment in SXYZ using the equity method
2) Provide the consolidation entries necessary as of December 31, 2022 to prepare consolidated financial statements of ABC and subsidiaries
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