PRINTER VERSION BACK NEXT Brief Exercise 9-21 Your answer is partially correct. Try again. Sheffield Corporation purchased a 25% interest in krov Corporation on January 2, 2017, for $1,100. At that time, the carrying amount of Krov's net assets was $3,890. Any excess of the cost of the investment over Sheffield's share of Krov's carrying amount can be attributed to unrecorded intangibles with a useful life of 20 years. Krov declared and paid a dividend of $14 and reported net income of 535 for its year ended December 31, 2017. Prepare Sheffield's 2017 entries to record all transactions and events related to the investment in its associate. Assume that Sheffield is a publicly accountable enterprise that applies IFRS. (Round answers to 2 decimal places, e.g. 52.75. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Date Account Titles and Explanation Debit Credit January 2 Investment in Associate Cash To record investment in associate. December 31 VE To record collection of dividend. December 31 To record investment income or loss. Her er December 31 To record amortization of fair value difference. SHOW LIST OF ACCOUNTS SHOW SOLUTION LINK TO TEXT