Question
On January 1, Neely Corporation purchased a 30% equity in Poole Company for $120,000. At December 31, Poole declared and paid a $40,000 cash dividend
On January 1, Neely Corporation purchased a 30% equity in Poole Company for $120,000. At December 31, Poole declared and paid a $40,000 cash dividend and reported net income of $100,000. (5 points) Instructions Prepare the necessary journal entries for Neely Corporation.
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Auditing
Authors: Thomas D. Hubbard, J. R. Johnson, Steve Johnson, Joel D. Hubbard
6th Edition
0873932609, 9780873932608
