Question: please, could you help me with this the work you have completed sc Required information Use the following information for the Problems below. The following



the work you have completed sc Required information Use the following information for the Problems below. The following information applies to the questions displayed below) Selk Steel Co. which began operations in Year 1, had the following transactions and events in its long-term investments Year 1 an 5 Selk purchased 45,000 shares (20% of total of Kildare's common stock for $1,000,000 Oct. 23 Kildare declared and paid a cash dividend of 32.90 per share Dec. 31 Kildaire's net income for the year is 33,111,000 and the fair value of its stock at December 152 per share Year 2 Oct. 15 kildere declared and paid a cash dividend of $2.00 per share Dec. 31 Kildalros net income for the year is $11,000 and the fair value or its stock December 11 i 334 per Share Year 3 bon 2 Selk sold equal to 1.350 shares of Its Investment in tre for 300 500 cash Problem 15-6A Accounting for long-term investments in stock without significant influence LO P4 Assume that although Selk owns 20% of Kildare's outstanding stock circumstances indicate that it does not have a significant influence over the investee Required: 1. Prepare journal entries to record the preceding transactions and events for Selk & Answer is not complete. Complete this question by entering your answers in the tabs below. Year 1 Year 2 Year 3 Prepare journal entries to record the preceding transactions and events for Selk. No Date General Journal Dobil Credit 1 Jan 05 Stock investments 1,080 000 Cash 1,080,000 2 Oct 23 130,500 Cash Stock investments 8 130,500 3 Dec 31 222 200 Stock Investments Earnings from equity method investments 222 200 Year 2 > Required: 1. Prepare journal entries to record the preceding transactions and events for Selk Answer is not complete. Complete this question by entering your answers in the tabs below. Year 1 Year 2 Year 3 Prepare journal entries to record the preceding transactions and events for Selk. No Date General Journal Debit Credit 1 Oct 15 Cash 117,000 Stock investments 117.000 2 Dec 31 227 800 Stock investments Earnings from equity method investments XX 227 800 Required: 1. Prepare journal entries to record the preceding transactions and events for Selk. Answer is not complete. Complete this question by entering your answers in the tabs below. Year 1 Year 2 Year 3 Prepare journal entries to record the preceding transactions and events for Selk. No Date General Journal Credit 1 Jan 02 Debit 69,500 Cash Gain on sale of stock Investments Stock Investments
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