Ringer Company acquired 40% of the outstanding stock of the Leopard Company for $370,000 on January 1, 2014. The purchase price equaled 40% of the book value of Leopard Company. During 2014, the following information is available for Leopard:

Required:
Prepare the journal entries necessary by Ringer to reflect the preceding information.

Question

Ringer Company acquired 40% of the outstanding stock of the Leopard Company for $370,000 on January 1, 2014. The purchase price equaled 40% of the book value of Leopard Company. During 2014, the following information is available for Leopard:

Required:
Prepare the journal entries necessary by Ringer to reflect the preceding information.

Quizplus · Accepted Answer

The Answer of Ringer Company acquired 40% of the outstanding stock of the Leopard Company for $370,000 on January 1, 2014. The purchase price equaled 40% of the book value of Leopard Company. During 2014, the following information is available for Leopard:

Required:
Prepare the journal entries necessary by Ringer to reflect the preceding information.

Ringer Company Acquired 40% of the Outstanding Stock of the Leopard