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Category > Management Posted 16 Feb 2018 My Price 6.00

Pennington Corporation

(Equity Method) On January 1, 2014, Pennington Corporation purchased 30% of the common shares of Edwards Company for $180,000. During the year, Edwards earned net income of $80,000 and paid dividends of $20,000.

Instructions

Prepare the entries for Pennington to record the purchase and any additional entries related to this investment in Edwards Company in 2014.

 

Answers

Maurice Tutor
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Status NEW Posted 16 Feb 2018 11:02 PM My Price 6.00

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