On January 1 Oetry Corporation purchased a 35% equity in Selig Company for $190000. At December 31 Selig declared and paid a $50000 cash dividend and reported net income of $80000.
Instructions
Prepare the necessary journal entries for Oetry Corporation.

Question

Quizplus · Accepted Answer

The Answer of On January 1 Oetry Corporation purchased a 35% equity in Selig Company for $190000. At December 31 Selig declared and paid a $50000 cash dividend and reported net income of $80000.
Instructions
Prepare the necessary journal entries for Oetry Corporation.

On January 1 Oetry Corporation Purchased a 35% Equity in Selig