Equity method OBJ. 3 On January 2, Peyroux Company acquired 35% of the outstanding stock of Gruden
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Equity method OBJ. 3 On January 2, Peyroux Company acquired 35% of the outstanding stock of Gruden Company for $625,000. For the year ended December 31, Gruden Company earned income of $110,000 and paid dividends of $26,000. Prepare the entries for Peyroux Company for the purchase of the stock, the share of Gruden income, and the dividends received from Gruden Company.
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Related Book For
Financial And Managerial Accounting
ISBN: 9781305267831,9781305267848
13th Edition
Authors: Carl S. Warren , James M. Reeve , Jonathan Duchac
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