JunoCo Direct acquired 25% of Thistle Limited for $ 600,000 on January 1, 2021. JunoCo will apply the equity method to account for the investment as they can Instructions
a) Prepare the journal entries required to record the acquisition, and the transactions during 2021.
b) Determine the carrying value of the investment in Thistle Limited as at December 31, 2021.
Correct Answer:
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