On January 1,2019,Walker Company pays $10 million for 40% of the voting stock of a supplier,Dorglass,Inc.On December 1,2019,Dorglass declared and paid cash dividends of $100,000.For the year ending December 31,2019,Dorglass also reported net income of $1,000,000.At December 31,2019,the fair value of 40% of Dorglass's stock was $9 million.On January 1,2020,all the Dorglass stock was sold for $9 million.
Required:
Prepare journal entries on the following dates:
1.January 1,2019
2.December 1,2019
3.December 31,2019
4.January 1,2020
Explanations are not required.

Question

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The Answer of On January 1,2019,Walker Company pays $10 million for 40% of the voting stock of a supplier,Dorglass,Inc.On December 1,2019,Dorglass declared and paid cash dividends of $100,000.For the year ending December 31,2019,Dorglass also reported net income of $1,000,000.At December 31,2019,the fair value of 40% of Dorglass's stock was $9 million.On January 1,2020,all the Dorglass stock was sold for $9 million.
Required:
Prepare journal entries on the following dates:
1.January 1,2019
2.December 1,2019
3.December 31,2019
4.January 1,2020
Explanations are not required.

On January 1,2019,Walker Company Pays $10 Million for 40% of the Voting