On January 1 Jett Corporation purchased a 30% equity in Dexter Corporation for €220,000. At December 31 Dexter declared and paid a €60,000 cash dividend and reported net income of €200,000.
Instructions
(a) Journalize the transactions.
(b) Determine the amount to be reported as an investment in Dexter at December 31.

Question

Quizplus · Accepted Answer

The Answer of On January 1 Jett Corporation purchased a 30% equity in Dexter Corporation for €220,000. At December 31 Dexter declared and paid a €60,000 cash dividend and reported net income of €200,000.
Instructions
(a) Journalize the transactions.
(b) Determine the amount to be reported as an investment in Dexter at December 31.

On January 1 Jett Corporation Purchased a 30% Equity in Dexter