On January 1,2016,Red Deer Corporation paid $360,000 to purchase 32% of the outstanding voting stock of English Court Corporation.The equity method is used to account for the investment.The following data relate to this investment.
2016
Prepare all journal entries for 2016 and 2017 relating to Red Deer Corporation's investment in English Court Corporation.

Question

On January 1,2016,Red Deer Corporation paid $360,000 to purchase 32% of the outstanding voting stock of English Court Corporation.The equity method is used to account for the investment.The following data relate to this investment.
2016
  Prepare all journal entries for 2016 and 2017 relating to Red Deer Corporation's investment in English Court Corporation.

Quizplus · Accepted Answer

The Answer of On January 1,2016,Red Deer Corporation paid $360,000 to purchase 32% of the outstanding voting stock of English Court Corporation.The equity method is used to account for the investment.The following data relate to this investment.
2016
  Prepare all journal entries for 2016 and 2017 relating to Red Deer Corporation's investment in English Court Corporation.

On January 1,2016,Red Deer Corporation Paid $360,000 to Purchase 32