On March 1, 2011, Chase Inc. purchases 35% of the outstanding shares of Glory Corporation stock for $325,000. On December 31, 2011, Glory reports net income of $162,000. On January 15, 2012, Glory pays total dividends to stockholders of $33,000.
Required: Journalize the three transactions described above.

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The Answer of On March 1, 2011, Chase Inc. purchases 35% of the outstanding shares of Glory Corporation stock for $325,000. On December 31, 2011, Glory reports net income of $162,000. On January 15, 2012, Glory pays total dividends to stockholders of $33,000.
Required: Journalize the three transactions described above.