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Batman Corp invested $ 3 , 1 5 0 , 0 0 0 in Superman Inc. for 3 0 % of its outstanding common shares.
Batman Corp invested $ in Superman Inc. for of its outstanding common shares. At this time, the book value equity of Superman Inc. was $ Oregano's pays out of its net income in dividends each year. Batman elects two of five members of Superman's board of directors. During Batman received a cash dividend of $ from Superman Inc. Instructions a Record the initial purchase of the Superman Inc. shares by Batman Corp. b Calculate Superman Inc.s net income for c Record the journal entries related to this investment on Batman's books.
Batman Corp invested $ in Superman Inc. for of its outstanding common shares. At this time, the book value equity of Superman Inc. was $ Oregano's pays out of its net income in dividends each year. Batman elects two of five members of Superman's board of directors. During Batman received a cash dividend of $ from Superman Inc.
Instructions
a Record the initial purchase of the Superman Inc. shares by Batman Corp.
b Calculate Superman Inc.s net income for
c Record the journal entries related to this investment on Batman's books.
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