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Question 10 Assume that KAK Corp. acquires for cash a 19% interest in LYR, Inc. for $450,000. LYR reports net income of $93,000 and pays

Question 10 Assume that KAK Corp. acquires for cash a 19% interest in LYR, Inc. for $450,000. LYR reports net income of $93,000 and pays dividends of $8,000. Please prepare the entries for KAK to record its proportionate share of LYR's earnings and the receipt of dividends.
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Question 10 Assume that KAK Corp. acquires for cash a 19\% interest in LYR, Inc. for $450,000. LYR reports net income of $93,000 and pays dividends of $8,000. Please prepare the entries for KAK to record its proportionate share of LYR's earnings and the receipt of dividends

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