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Please do ENTRY I, D, E for two years Required information Cashen Co paid $2,400,000 to acquire all of the common stock of Janex Corp.
Please do ENTRY I, D, E for two years
Required information Cashen Co paid $2,400,000 to acquire all of the common stock of Janex Corp. on January 1, 2017. Janex's reported earnings for 2017 totaled 5432,000, and it paid $120,000 in dividends during the year. The amortization of allocations related to the investment was $24,000. Cashen's net income, not including the investment, was $3.180,000, and it pald dividends of $900,000. On the consolidated financial statements for 2017, what amount should have been shown for Equity in Subsidiary Earnings? Multiple Choice $132.000 S408,000 O $120,000 2000g $288,000 Explanation $0 corteseminated from the investment account) Step by Step Solution
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