Question
3.) On January 1, 2017, Alpha Company purchased a significant influence shares investment in the Bravo-Zulu Company for $250,000.This investment balance represents 30% of the
3.) On January 1, 2017, Alpha Company purchased a significant influence shares investment in the Bravo-Zulu Company for $250,000.This investment balance represents 30% of the equity of the Bravo-Zulu Company.During 2017, Bravo-Zulu Company reported Net Income of $25,000 on November 15, 2017 Bravo-Zulu Company paid cash dividends of $10,000 to its shareholders. Use this information to prepare the January 1, November 15 and December 31, 2017 General Journal entry.
4.) On January 1, 2017, Alpha Company purchased a significant influence shares investment in the Bravo-Zulu Company for $250,000.This investment balance represents 25% of the equity of the Bravo-Zulu Company.During 2017, Bravo-Zulu Company reported Net Income of $25,000 on November 15, 2017 Bravo-Zulu Company paid cash dividends of $10,000 to its shareholders. Using this information, what are the FY 2017 balances in Alpha Company's account balances for:
a. Investment in Bravo-Zulu
b. Investment Income
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Managerial Accounting
Authors: Karen Braun, Linda S Bamber
2nd Edition
136091164, 978-0136091165
