I need solution of these two accounting problem attach are given below

Question

Bhavani · Accepted Answer

Equity  and  Fair  value
			Equity  method  Journal  entries
	Date 		Account  names		Debit		Credit
	Jan -01-1st  year		Investment in  Norton 		3000000.00
			   Cash 				3000000.00
	Dec -31-1st year		Investment  in  Norton		730000.00
			    Equity  income        ($1825000 * 40/100)				730000.00
	Dec -31-1st year		Cash		160000.00
			     Investment  In  Norton  (400,000 * 40/100)				160000.00
	Dec -31-1st  year 		Equity  income 		3000.00
			     Investment  In  Norton				3000.00
			(Cost  of  the  investment =                       $3000,000
			Less: 
			Book  value  acquired   =                           $2,600,000
			($6,500,000 * 40/100 )
			Excess  of  the  book  value    =                  $400,

I need solution of these two accounting problem attach are given below

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