Question
On January 2 nd , 2017, Vivian Inc. acquired 35% of the outstanding shares of common stock of Barque Company for $550,000. For the year-ended
On January 2nd, 2017, Vivian Inc. acquired 35% of the outstanding shares of common stock of Barque Company for $550,000. For the year-ended December 31st, 2017, Barque reported net income of $1,500,000, and paid cash dividends of $400,000 to its shareholders. What is the journal entry Veronique should record related to Barque's 2017 net income?
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Fundamentals of Financial Accounting
Authors: Fred Phillips, Robert Libby, Patricia Libby, Brandy Mackintosh
4th Canadian edition
978-1259269868, 978-1259103292
