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Apple obtained significant influence over Samsung when they acquired a 30% interest in Samsung by acquiring 30% of the 80,000 outstanding shares of common stock
Apple obtained significant influence over Samsung when they acquired a 30% interest in Samsung | ||||||||
by acquiring 30% of the 80,000 outstanding shares of common stock at $24 per share on January 1, 2020. | ||||||||
On July 1st, Samsung paid a cash dividend of $250,000. On December 31, Samsung reported a net loss of $450,000. | ||||||||
Prepare the necessary journal entries to record the above transactions |
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