Question: Reporting a Change to the Equity Method acquires an additional 20% of common stock of the investee for $24,320, thereby increasing the investor's overall ownership

Reporting a Change to the Equity Method acquires an additional 20% of common stock of the investee for $24,320, thereby increasing the investor's overall ownership interest to 25%. Required a. Prepare the journal entries the investor company should record on March 1, 2022. 20% common stock purchase on March 1, 2022 does qualify as an observable price change in orderly transaction. Prepare the journal entries the investor company should record on March 1, 2022. 20% common stock purchase on March 1, 2022 does not qualify as an observable price change in orderly transaction. Prepare the journal entries the investor company should record on March 1, 2022

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