Question 4 On January 1, 2018, your company acquires 10,000 shares of Investee Business Limited ("IBL"), representing 40% of the shares of IBL, for $200,000. As part of that investment, your company is entitled to appoint one director to the four-member Board of Directors. For the year ended December 31, 2018, IBL earns $400,000 of profit (net income) and no other comprehensive income. On January 2, 2019, IBL declares and pays dividends of $80,000 to all shareholders. REQUIRED Prepare journal entries for the following dates: (a) January 1, 2018; (b) December 31, 2018; and (c) January 2, 2019.

Item 1 Item Details When the financial controller was providing details on the employee share schemes at Knappa, it was identified that share options granted to the production staff on 1 July 2022 were not accounted for in the year ended 30 June 2023 financial statements. On 1 July 2022, 1,000 share options were granted to each of Knappa's 30 production employees, on the condition that the employees remain with the company for the next two years and that the share price increases from $26.50 per share on 1 July 2022 to $35 per share on 30 June 2024. If the share price target at 30 June 2024 is achieved, the share options can be exercised at any time over the subsequent 12 months (ie up to 30 June 2025). The fair value of each share option at the grant date was $5.60. You have obtained the following information: Year Number of employees who departed during the year No of employees expected to depart in future years 30.06.2023¹ 30.06.2024 1. This information was obtained at 30 June 2023;…

Situation 1 Pharoah Tables acquired 15% of the 4,800,000 shares of common stock of Robot Sofas at a total cost of $7.80 per share on April 1, 2025. On August 8, Robot Sofas declared and paid a $267,000 cash dividend. On December 31, Robot Sofas market price was $8.30 per share and the company reported net income of $625,000 for the year. Situation 2 On January 1, 2025, Coronado Company purchased 40% of Santos Corporation 525,000 outstanding shares of common stock at a total cost of $14 per share. On October 25, Santos declared and paid a cash dividend of $0.40 per share. On December 31, Santos reported a net income of $928,000 for the year and the market price of its common stock was $15 per share. Prepare all necessary journal entries in 2025 for both situations. (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. List all debit entries…

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