On January 1, 2009, Frederich Corporation purchased 7,500 shares of Sport Tech, Inc. as a long-term investment for a total of $235,000. The 7,500 shares represent 30% of the outstanding (25,000) shares of Sport Tech. Prepare the journal entries for Frederich to record the following transactions and events:

Question

On January 1, 2009, Frederich Corporation purchased 7,500 shares of Sport Tech, Inc. as a long-term investment for a total of $235,000. The 7,500 shares represent 30% of the outstanding (25,000) shares of Sport Tech. Prepare the journal entries for Frederich to record the following transactions and events:
On January 1, 2009, Frederich Corporation purchased 7,500 shares of Sport Tech, Inc. as a long-term investment for a total of $235,000. The 7,500 shares represent 30% of the outstanding (25,000) shares of Sport Tech. Prepare the journal entries for Frederich to record the following transactions and events:

Quizplus · Accepted Answer

The Answer of On January 1, 2009, Frederich Corporation purchased 7,500 shares of Sport Tech, Inc. as a long-term investment for a total of $235,000. The 7,500 shares represent 30% of the outstanding (25,000) shares of Sport Tech. Prepare the journal entries for Frederich to record the following transactions and events:

On January 1, 2009, Frederich Corporation Purchased 7,500 Shares of Sport