Please help me fast InstructionsMier Corporation acquired 30% of the outstanding common stock of Crowell Corporation for $180,000 on January 1, 2018, and obtained significant influence. The purchase price of the shares wasequal to their book value. During 2018, the following information is available for CrowellMar. 31June 30Sept. 30Dec 31Declared and paid a cash dividend of $60,000Reported semiannual earnings of $100,000 for the first half of 2010.Declared and paid a cash dividend of $60,000Reported semiannual earnings of $140,000 for the second half of 2018Required:1. Prepare journal entries for Miller to reflect the preceding information2 What is the balance in Miller's investment account on December 31, 20187Dec 31 Investment Income42,000.00

In an organization's accounting system, a journal entry documents a commercial transaction. Journal…

Instructions Mer Corporation acquired 30% of the outstanding common stock of Crowell Corporation for $100,000 on January 1, 2018, and obtained significant influence. The purchase price of the shares was equal to their book value. During 2018, the following information is available for Crowel Mar 31 June 30 Sept. 30 Dec 31 Declared and paid a cash dividend of 500,000 Reported semannual earnings of $100,000 for the first half of 2010 Declared and paid a cash dividend of 500,000 Reported semiannual earnings of $140,000 for the second half of 2018 Required: 1. Prepare journal entries for Miller to reflect the preceding information What is the balance in Miller's investment account on December 31, 20187

Instructions Mer Corporation acquired 30% of the outstanding common stock of Crowell Corporation for $100,000 on January 1, 2018, and obtained significant influence. The purchase price of the shares was equal to their book value. During 2018, the following information is available for Crowel Mar 31 June 30 Sept. 30 Dec 31 Declared and paid a cash dividend of 500,000 Reported semannual earnings of $100,000 for the first half of 2010 Declared and paid a cash dividend of 500,000 Reported semiannual earnings of $140,000 for the second half of 2018 Required: 1. Prepare journal entries for Miller to reflect the preceding information What is the balance in Miller's investment account on December 31, 20187

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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