Question: please follow the worksheet dont just answer randomly please please. Only follow the worksheet All the data are correct only the name is the worksheet

please follow the worksheet dont just answer randomly please please. Only

follow the worksheet All the data are correct only the name is

please follow the worksheet dont just answer randomly please please. Only follow the worksheet

All the data are correct only the name is the worksheet is different cause its a different edition of book. Instead of Ennis plug is used and instead of jackson corp spark corp is used.

Make sure you filled up the worksheet don't copy others works

P5-26 Equity Method with Differential Assume that Plug Corporation has significant influence (NOT control!) over Spark Corporation a. For internal reporting, prepare the following journal entries for Plug: (1) Record initial investment at 1/1/20X8 (Nore ihat Plug issued stock to acquire 35% of Spark's stock, Plug did not pay cash.) (2) The amount of goodwill included in this acquisition - $ Show work! (Note that Plug did not acquire 100% of Spark.) (3) Record investment income at 12/31/20X8: Show work! (4) Record cash dividend received (in cash) during 12/31/20X8: Show work! b. For external reporting, Plug should report: (Hint: Would internal reporting be different from external reporting when investing company has significant influence over investee?) Investment income from Spark for 20X8 = $ Investment in Spark at December 31, 20X8 = $ Show work! P5-26 Equity Method with Differential Assume that Plug Corporation has significant influence (NOT control!) over Spark Corporation a. For internal reporting, prepare the following journal entries for Plug: (1) Record initial investment at 1/1/20X8 (Nore ihat Plug issued stock to acquire 35% of Spark's stock, Plug did not pay cash.) (2) The amount of goodwill included in this acquisition - $ Show work! (Note that Plug did not acquire 100% of Spark.) (3) Record investment income at 12/31/20X8: Show work! (4) Record cash dividend received (in cash) during 12/31/20X8: Show work! b. For external reporting, Plug should report: (Hint: Would internal reporting be different from external reporting when investing company has significant influence over investee?) Investment income from Spark for 20X8 = $ Investment in Spark at December 31, 20X8 = $ Show work

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