On January 1, Marin Corporation purchased 35% of the outstanding shares of Sellg Company forS243,200. At declared and paid a $64,000 cash dividend and reported net income of $102,400. Prepare the necessary journal entries for Marin Corporation. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit
On January 1, Marin Corporation purchased 35% of the outstanding shares of Sellg Company forS243,200. At declared and paid a $64,000 cash dividend and reported net income of $102,400. Prepare the necessary journal entries for Marin Corporation. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter13: Investments And Long-term Receivables
Section: Chapter Questions
Problem 14RE
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