Question
Need help figuring out how to record journal entry for Purchased 40,000 shares of Pinkberry Co. stock directly from the founders for $24 per share.
Need help figuring out how to record journal entry for
Purchased 40,000 shares of Pinkberry Co. stock directly from the founders for $24 per share. Pinkberry has 125,000 shares issued and outstanding. Equinox Products Inc. treated the investment as an equity method investment. Received $27,500 dividend from Pinkberry Co. investment.
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Intermediate Accounting
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
10th Edition
324300980, 978-0324300987
