Kinross Gold Corp paid $19,000,000 to acquire a 40 percent investment in Minecraft Ltd. Further, assume Minecraft Ltd reported net income of $11 general journal Purchase of the investment. Disregard brokerage commissions on the purchase. Jan 2 Dec 31 Kinross's proportion of Minecraft Ltd's net income Dec 31 Receipt of the cash dividends. Record the entries in Kinross's general journal. Begin by creating a journal entry to record the purchase of the investment in Minecraft Ltd on January 2 (Record debits first, then credits. Enter Date Jan 2 Journal Entry Accounts and Explanations Debit Credit Now create the journal entry to record Kinross's portion of Minecraft Ltd's net income on December 31 Question Help ssume Minecraft Ltd reported net income of $1,850,000 for the first year and declared and paid cash dividends of $825,000. Record the following entries in Kinross's -2. (Record debits first, then credits. Enter explanations on the last line.) Credit Record the entries in Kinross's general journal Begin by creating a joumal entry to record the purchase of the investment in Minecraft Ltd on January 2 (Record debits first, then credits. Enter expla Date Jan 2 Journal Entry Accounts and Explanations Debit Credit Now create the journal entry to record Kinross's portion of Minecraft Ltd.'s net income on December 31 Date Dec 31 Journal Entry Accounts and Explanations Debit Credit Choose from any list or enter any number in the input fields and then continue to the next question Finally, create the journal entry to record the receipt of cash dividends on December 31 Date Dec 31 Journal Entry Accounts and Explanations Debit Credit Choose from any list or enter any number in the input fields and then continue to the next question. Type here to search