On January 1 Ranier Corporation purchased a (25 %) equity investment in Bellingham Corporation for ($ 150,000).

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On January 1 Ranier Corporation purchased a $25 \%$ equity investment in Bellingham Corporation for $\$ 150,000$. At December 31 Bellingham declared and paid a $\$ 60,000$ cash dividend and reported net income of $\$ 200,000$.

\section*{Instructions}

(a) Journalize the transactions.

(b) Determine the amount to be reported as an investment in Bellingham stock at December 31 .

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Financial Accounting Tools For Business Decision Making

ISBN: 9780471169192

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Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

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Question Posted: Jun 14, 2024 01:29 AM

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On January 1 Ranier Corporation purchased a (25 %) equity investment in Bellingham Corporation for ($ 150,000).

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Financial Accounting Tools For Business Decision Making

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