Recording Parents Entries under the Equity Method For 2006, a 100%-owned subsidiary re ported net income of
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Recording Parent’s Entries under the Equity Method For 2006, a 100%-owned subsidiary re¬ ported net income of $90,000 and declared dividends of $40,000. Amortization of cost in excess of book value, as calculated by the parent, was $12,000.
Required Prepare the parent’s general ledger entries under the equity method.
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