Journal entries required on the date of acquisition and at the end of the first year to adjust investment to fair value. Given information: Company T acquired shares of company W. The total worth of the shares is $1,100,000. The fair value of shares at the end of the shares is $1,300,000.

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Chapter 16, Problem 16.15BE

To determine

To prepare: Journal entries required on the date of acquisition and at the end of the first year to adjust investment to fair value.

Given information:

Company T acquired shares of company W.

The total worth of the shares is $1,100,000.

The fair value of shares at the end of the shares is $1,300,000.

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