Question: Use the given journal entries only. dont make them own urrent Attempt in Progress Viege Cosmetics, a public company, acquires 40% of Kingbird Inc's 27,800

Use the given journal entries only. dont make them own
Use the given journal entries only. dont make them own urrent Attempt
in Progress Viege Cosmetics, a public company, acquires 40% of Kingbird Inc's

urrent Attempt in Progress Viege Cosmetics, a public company, acquires 40% of Kingbird Inc's 27,800 common shares for $19 per share on January 2, 2021. On June 15, Kingbird pays a cash dividend of $27.000. On December 31, Kingbird reports profit of $380,300 for the year. At December 31, Kingbird shares are trading at $22 por share. Prepare the required journal entries to record the Kingbird Inc investment assuming significant influence exists. (Credit account titles are automotically indented when the amount is entered. Do not indent manually. If no entry is required select "No Entry for the account titles and enter for the amounts Record journal entries in the order presented in the problem.) Date Account Titles and Explanation ebit Credit Investment in Aegolate Ceah Dividend Receiveble Income from investment In Associate Dividend Revenue Investments at FVTPL No Entry Dividend Payable LE To record collection of dividend from associate To record investment income from LOG Determine the balance in the investment account on December 31, 2021, Visage Cosmetics'year end. Balance in the investment account S eTextbook and Media Se for later Attempts: 0 of 3 used St Anwar

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