Question
On January 1, 2016 P Inc. paid $55,000 for a 30% interest in S Inc. P considers its investment in S as a significant influence
On January 1, 2016 P Inc. paid $55,000 for a 30% interest in S Inc. P considers its investment in S as a significant influence investment. S reported earnings of $30,000 for 2016 and declared and paid dividends of $18,000 on December 31, 2016.
Required:
Prepare journal entries to record these facts on Ps books given that P uses the equity method to record its investment in Sunk.
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Construction Auditing Planning Implementation Use
Authors: Peter Wotschke, Gregor Kindermann
1st Edition
3658388404, 978-3658388409
