Record the following selected transactions for April in a two-column journal, identifying each entry by letter:
Definitions:
Subsidiary
A company controlled by another company, termed as the parent company, usually through majority share ownership.
Disclosure
The process of providing financial and other significant information about a company's operations, financial condition, and management to stakeholders.
Fair Market Value
The cost at which an asset would be sold in an open market scenario, involving a buyer and a seller who are both willing to transact and are well-informed about the essential details.
Goodwill
An intangible asset that arises when a company acquires another for a price higher than the fair value of its net identifiable assets.
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