On January 1, 2011, Alsop Corp. acquired 30 percent (13,000 shares) of Stone Services Inc. common stock for $1,300,000 as a long-term investment. Data from Stone's 2011 financial statements include the following:

The market value of Stone Services Inc. common stock on December 31, 2011, was $98 per share. Alsop does not have any other noncurrent investments in securities.
Prepare the necessary journal entries for Alsop's investment in Stone Services Inc. common stock under

Question

On January 1, 2011, Alsop Corp. acquired 30 percent (13,000 shares) of Stone Services Inc. common stock for $1,300,000 as a long-term investment. Data from Stone's 2011 financial statements include the following:
  
The market value of Stone Services Inc. common stock on December 31, 2011, was $98 per share. Alsop does not have any other noncurrent investments in securities.
Prepare the necessary journal entries for Alsop's investment in Stone Services Inc. common stock under

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The Answer of On January 1, 2011, Alsop Corp. acquired 30 percent (13,000 shares) of Stone Services Inc. common stock for $1,300,000 as a long-term investment. Data from Stone's 2011 financial statements include the following:
  
The market value of Stone Services Inc. common stock on December 31, 2011, was $98 per share. Alsop does not have any other noncurrent investments in securities.
Prepare the necessary journal entries for Alsop's investment in Stone Services Inc. common stock under