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Sheridan Company owns 3 0 % of Lauer Company. For the current year, Lauer reports net income of $ 2 3 5 , 0 0
Sheridan Company owns of Lauer Company. For the current year, Lauer reports net income of $ and declares and pays a $ cash dividend. Record Sheridan's equity in Lauer's net income and the receipt of dividends from Lauer. List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select No entry" for the account titles and enter for the amounts. Date Account Titles and Explanation Debit Credit Dec. To record equity in Lauer's net income Dec.
Sheridan Company owns of Lauer Company. For the current year, Lauer reports net income of $ and declares and pays a $ cash dividend.
Record Sheridan's equity in Lauer's net income and the receipt of dividends from Lauer. List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select No entry" for the account titles and enter for the amounts.
Date Account Titles and Explanation
Debit
Credit
Dec.
To record equity in Lauer's net income
Dec.
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