Show me the steps to solve : Required:

a$.$ What balance does Parkovash's Investment in Salerno account show on December $31,2024,$ when the equity method is

applied?

b$.$ What is the consolidated net income for the year ending December $31,2024?$

c$-1.$ What is the consolidated equipment balance as of December $31,2024?$

c$-2.$ Would this answer be affected by the investment method applied by the parent?

d$.$ Prepare entry ${?}^{*}C$ for the beginning of the Retained Earnings account on a December $31,2024$ by using initial value, partial

equity and equity method.

Complete this question by entering your answers in the tabs below.

Prepare entry $*$C for the beginning of the Retained Earnings account on a December $31,2024$ by using initial value, partial equity and

equity method.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

Consolidation

Worksheet Entries

$1$

$2$

$3$

Prepare entry $*$ C if the parent used the initial value method.

Note: Enter debits before credits. Prepare entry ${?}^{*}C$ for the beginning of the Retained Earnings account on a December $31,2024$ by using initial value, partial equity and

equity method.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

Consolidation

Worksheet Entries

$1$

Prepare entry $*$C if the parent used the partial equity method.

Note: Enter debils before credits. Prepare entry $*$C for the beginning of the Retained Earnings account on a December $31,2024$ by using initial value, partial equity and

equity method.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

Consolidation

Worksheet Entries

$1$

$2$

$3$

Prepare entry $*$C if the parent used the equity method.

Note: Enter debits before credits.