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Significant Influence Investment - Prepare all calculations. EQUITY method of accounting significant influence, On January 1, 2020, Joy Inc. paid $900,000 to purchase 30% of Happy Inc's outstanding voting shares. Joy Inc. has significant influence over Happy Inc. Assume that Joy Inc. is using the for this investment of .
The following took place in 2020:
Required:
Problem a) What should be reported as "investment in Happy Inc." on Joy's balance sheet as of December 31, 2020?
Problem b) prepare all the necessary journal entries for Joy for 2020
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George Fine, owner of Fine Manufacturing, is considering the introduction of a new product line. George has considered factors such as costs of raw materials, new equipment, and requirements of a new production process.
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During the month of April, the company manufactures 150 units and incurs the following actual costs. Journalize entries to record materials and labor variances
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