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On January 2, 2016, MBH Inc. acquired 25% of the voting common stock of Construction Corporation as a long-term investment. Data from Construction Corporation's financial
On January 2, 2016, MBH Inc. acquired 25% of the voting common stock of Construction Corporation as a long-term investment. Data from Construction Corporation's financial statements for the year ended December 31, 2016, include the following: $151,000 Net income $76,000 Dividends paid Required: Prepare any necessary journal entries for MBH at December 31, 2016, under the equity method of accounting for investments. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) view transaction list view general journal Journal Entry Worksheet 1 2 Record the entry for investment revenue received from Construction Corporation. General Journal Debit Credit Transaction *Enter debits before credits done clear entry record entry
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