Pistol Corporation purchased 100 percent ownership of Scope Products on January 1,20X6, for $56,000, at...
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Pistol Corporation purchased percent ownership of Scope Products on January X for $ at which time Scope Products reported retained earnings of $ and capital stock outstanding of $ The differential was attributable to patents with a life of eight years. Income and dividends of Scope Products were: Year Net Income Dividends X $ $ X X Required: Prepare the equitymethod entries that Pistol should record to account for this investment in XX and X What is the balance of the Investment in Scope account on Pistol's balance sheet at December X after all required equitymethod entries have been recorded?
Pistol Corporation purchased percent ownership of Scope Products on January X for $ at which time Scope Products reported retained earnings of $ and capital stock outstanding of $ The differential was attributable to patents with a life of eight years. Income and dividends of Scope Products were:
Year Net Income Dividends
X $ $
X
X
Required:
Prepare the equitymethod entries that Pistol should record to account for this investment in XX and X
What is the balance of the Investment in Scope account on Pistol's balance sheet at December X after all required equitymethod entries have been recorded?
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