Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. large company bought 25% of voting stock of tiny c

Large Company bought 25% of voting stock of Tiny Company for $100,000 cash on January...

50.1K

Verified Solution

Question

Accounting

Large Company bought 25% of voting stock of Tiny Company for $100,000 cash on January 01, 2019, and met the criterion or criteria to use equity method. For 2019, Tiny Company reported $20,000 net income and paid $1,000 cash dividend on December 31, 2019.

Prepare a journal entry or entries on the following dates showing computations in short form.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Biology
1.2K views

Susan has been diagnosed with Primary HYPERCORTISOLISM and SECONDARY HYPOTHYROIDISM I have set up two...

Physics
1.2K views

A particle is projected with some speed at an angle of 60 with horizontal and...

Basic Math
1.2K views

What is the standard form translation of the singular statement John Brown is a plumber...

Basic Math
1.2K views

Your school is printing programs for the honor society induction ceremony. L & L Printing...

Statistics
1.2K views

given data to construct a boxplot and identify the 5 number summary 146 135 143...

Algebra
1.2K views

A store is having a sale on almonds and jelly beans. For 5 pounds of...

Accounting
1.2K views

Sxample \#1 Bob \& Bobbi would like to buy a home. Bob makes $10.50 per...

Accounting
1.2K views

E8.4 Uncollectible accounts are expected to...

Accounting
1.2K views

EARNINGS MANAGEMENT AND FRAUD PROJECT ACCT 312: Spring 2020 You have just been hired as...

Accounting
1.2K views

Gus Corporation manufactured 10,000 golf bags during April. The fixed overhead cost-allocation rate is $40.00...

Accounting
1.2K views

Ho Designs experlenced the following events during Year 1, its first year of operation: 1....

Accounting
1.2K views

I need help solving this The management of Zigby Manufacturing prepared...