Turner Company purchased 40% of the outstanding stock of ICA Company for $10,000,000 on January 2, 2018.Turner elects the fair value option to account for the investment. During 2018, ICA earns $750,000 of incomeand on December 30 pays a dividend of $500,000. On December 31, 2018, the fair value of Turner’s investmenthas increased to $11,500,000. What journal entries would Turner make to account for this investment during2018, assuming Turner will account for the investment similar to how it would account for a trading security?

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Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.