6- Roberts owns 5- of Smith at has a balance in the investment account.pdf

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6. Roberts owns 5% of Smith at has a balance in the investment account of $200 , 000 at December 31, 2015. On January 1, 2016 Roberts purchases an additional 10% ownership in Smith for $70 , 000 . Roberts will Dr. Investment in Smith for $70 , 000 and credit Cash for $70 , 000 . What additional entry will Roberts be required to make to reflect the increase in ownership..

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