A on january 1 2016 stan company paid 40000 to acquire 10, Ask an Expert

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A. On January 1, 2016, Stan Company paid $40,000 to acquire 10% of Kyle Corporation. Stan Company has no significant influence over Kyle Corporation. What is the journal entry made by Stan Company upon acquisition?

B. Based on the information above, what is the journal entry made by Stan at December 31, 2016 if Kyle reports net income of $120,000 for 2015?

C. Based upon the information from A, what is the journal entry made by Stan upon receipt of $5,000 in dividends for 2016 from Kyle?

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M92013006

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