Question
BE 129 : On January 1, Hillard Corporation purchased a 15% equity in Lewis Company for $360,000. At December 31, Lewis declared and paid a
BE 129: On January 1, Hillard Corporation purchased a 15% equity in Lewis Company for $360,000. At December 31, Lewis declared and paid a $40,000 cash dividend and reported net income of $98,000. Prepare the necessary journal entries for Hillard Corporation.
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Entrepreneurial Financial Management An Applied Approach
Authors: Jeffrey R. Cornwall, David O. Vang, Jean M. Hartman
4th Edition
0765646854, 978-0765646859
