On March 31,2019,Kudos Corporation paid $20,000,000 for 2,000,000,$1 par value,shares of the voting stock of Nutribar Corporation.This investment represented 40% of Nutribar's outstanding shares.On December 12,2019,Nutribar declared and paid a $1,000,000 cash dividend and reported net income for the year ended 2019 of $10,000,000.On December 31,2019,Nutribar's stock was trading at $11.50 per share.
A.Record the journal entry on Kudos' book for the acquisition of Nutribar on March 31,2019.
B.Record the cash dividend received by Kudos on December 12,2019.
C.Record any end of year entries needed on Kudos' books.

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The Answer of On March 31,2019,Kudos Corporation paid $20,000,000 for 2,000,000,$1 par value,shares of the voting stock of Nutribar Corporation.This investment represented 40% of Nutribar's outstanding shares.On December 12,2019,Nutribar declared and paid a $1,000,000 cash dividend and reported net income for the year ended 2019 of $10,000,000.On December 31,2019,Nutribar's stock was trading at $11.50 per share.
A.Record the journal entry on Kudos' book for the acquisition of Nutribar on March 31,2019.
B.Record the cash dividend received by Kudos on December 12,2019.
C.Record any end of year entries needed on Kudos' books.

On March 31,2019,Kudos Corporation Paid $20,000,000 for 2,000,000,$1 Par Value,shares