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Acquired for cash 80 % of the outstanding common stock of Meadow Corporation at $70 per share. The stockholder's equity of Meadow on January 1,2006 consosted of the following :

Common Stock,par value $ 50 $ 50.000

Retained Earnings $ 20.000

What Entries should have been made on the books of Todd during 2006 to record the following:

a. Investments in subsidiaries

b. Subsidiary dividens received

c. Parent's share of subsidiary income or loss

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9446941

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