On January 1, 2009, Black Corporation Purchased 15 Per Cent

question 31

Essay

On January 1, 2009, Black Corporation purchased 15 per cent of the outstanding shares of White Corporation for $498,000. From Black's perspective, White was a FVTPL investment. The fair value of Black's investment was $520,000 at December 31, 2009. On January 1, 2010, Black purchased an additional 30 per cent of White's shares for $1,040,000. The second share purchase allows Black to exert significant influence over White. During the two years White reported the following results: With respect to this investment, prepare Black's journal entries for both 2009 and 2010.

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Definitions:

Cardiac Arrest

A sudden loss of heart function, leading to a cessation of blood flow to the body and requiring immediate medical intervention.

Brainstem

The part of the brain that connects the spinal cord with the forebrain and cerebrum, responsible for controlling basic life functions such as breathing, heart rate, and sleeping.

Gyri

The ridges or folds that make up the cerebral cortex in the brain, increasing its surface area to accommodate more neurons.

Sulci

Grooves or furrows on the surface of the brain.