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On January 1, 2025, Vaughn Corporation purchased 40% of the common shares of Bramble Company for $200,000. During the year, Bramble earned net income of
On January 1, 2025, Vaughn Corporation purchased 40% of the common shares of Bramble Company for $200,000. During the year, Bramble earned net income of $72,000 and paid dividends of $18,000. Prepare the entries for Vaughn to record the purchase and any additional entries related to this investment in Bramble Company in 2025. (List all debit entries before credit entries. Credit account titles are automatically indented when aimount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Account Titles and Explanation Debit Credit (To record purchase of stock.) (To record receipt of dividends.) (To record revenue.) On January 1, 2025, Vaughn Corporation purchased 40% of the common shares of Bramble Company for $200,000. During the year, Bramble earned net income of $72,000 and paid dividends of $18,000. Prepare the entries for Vaughn to record the purchase and any additional entries related to this investment in Bramble Company in 2025. (List all debit entries before credit entries. Credit account titles are automatically indented when aimount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Account Titles and Explanation Debit Credit (To record purchase of stock.) (To record receipt of dividends.) (To record revenue.)
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