Entries for equity investments: 20%-50% ownership

On January 6, 20Y8, Bulldog Co. purchased 34% of the outstanding common stock of Gator Co. for $212,000. Gator Co. paid total dividends of $24,000 to all shareholders on June 30, 20Y8. Gator had a net loss of $56,000 for 20Y8.

a. Journalize Bulldog's purchase of the stock, receipt of the dividends, and the adjusting entry for the equity loss in Gator Co. stock. If an amount box does not require an entry, leave it blank.

Jan. 6- Purchase

June 30- Dividend

Dec. 31- Equity Loss

compute the balance of investment and gator coast stock on December 31, 2008

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