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Banjo Co. invests $800,000 into Kazooie Co. Stock which gives them 40% ownership. Make...

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Question

Accounting

Banjo Co. invests $800,000 into Kazooie Co. Stock which gives them 40% ownership.
Make the following journal entries:
The purchase date entry:
Account
Debit
Credit
9
10
11
12 At year end, Kazooie Co. has net income of $2,000,000, Journalize if necessary:
13
Account
Debit
Credit
14
15
16
17
18 At year end, Kazooie Co. issues total dividends of $100,000. Journalize:
19 Account - Debit Credit
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