Question: Please, i need Unique answer, Use your own words (don't copy and paste). *Please, don't use handwriting. Course: Advanced Financial Accounting Q. SALMAN Company acquires

Please, i need Unique answer, Use your own words (don't copy and paste).

*Please, don't use handwriting.

Course: Advanced Financial Accounting

Q. SALMAN Company acquires 60 percent of HAMAD Companys common stock for $200,000 at the beginning of the year and gains significant influence over HAMAD. During the year, HAMAD has net income of $40,000 and pays dividends of $30,000.

Required: prepare the journal entries in books of SALMAN company under the Equity and Cost Method

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