Question
Assume that Ogleby Corp. acquires 35% of Crisp Corp. for $150,000 on January 1, 2010. The journal entry on Oglebys books assuming Crisps net income
Assume that Ogleby Corp. acquires 35% of Crisp Corp. for $150,000 on January 1, 2010. The journal entry on Oglebys books assuming Crisps net income for 2010 was $250,000 would include a debit to
| A. | No entry is necessary.
|
| B. | Cash for $250,000.
|
| C. | Cash for $87,500.
|
| D. | Long-term Investments for $87,500.
|
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Managerial Accounting
Authors: Sivaramakrishna, Ramji Balakrishnan
1st Edition
0471467855, 978-0471467854
