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On January1,2018 Dexter Morgan Boats paid $1850000 for its 30% investment in James Doaks Autos. After the purchase DMB has significant influence over JDA. JDA
On January1,2018 Dexter Morgan Boats paid $1850000 for its 30% investment in James Doaks Autos. After the purchase DMB has significant influence over JDA. JDA earned net income of$30000000 and paid cash dicidends of $ 15000000 to all outstanding stockholders during 2018. Assume all outstanding stock is voting stock.
1. Journalize all require 2018 transactions related to DMB investment in JDA. Omit explanations.
2. What is the December 31,2018 balance of the investment account?
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Japanese Management Accounting A World Class Approach To Profit Management
Authors: Michiharu Sakurai, Yasuhiro Monden
1st Edition
091529950X, 978-0915299508
