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On January 6,20Y8, Bulldog Co. purchased 29% of the outstanding common stock of $161,000. Gator Co. paid total dividends of $19,300 to all shareholders on
On January 6,20Y8, Bulldog Co. purchased 29% of the outstanding common stock of $161,000. Gator Co. paid total dividends of $19,300 to all shareholders on June 30,20 Y 8. Gator had a net loss of $30,600 for 20 Y8. a. Journalize Bulldog's purchase of the stock, receipt of the dividends, and the adjusting entry for the equity loss in Gator Co. stock. b. Compute the balance of Investment in Gator Co. Stock on December 31,20 Y8. $
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