On January 2, 2013, MBH Inc. acquired 30% of the voting common stock of Construction Corporation as a long-term investment. Data from Construction Corporation's financial statements for the year ended December 31, 2013, include the following: Required:
Prepare any necessary journal entries for MBH at December 31, 2013, under the equity method of accounting for investments.

Question

On January 2, 2013, MBH Inc. acquired 30% of the voting common stock of Construction Corporation as a long-term investment. Data from Construction Corporation's financial statements for the year ended December 31, 2013, include the following:  Required:
Prepare any necessary journal entries for MBH at December 31, 2013, under the equity method of accounting for investments.

Quizplus · Accepted Answer

The Answer of On January 2, 2013, MBH Inc. acquired 30% of the voting common stock of Construction Corporation as a long-term investment. Data from Construction Corporation's financial statements for the year ended December 31, 2013, include the following:  Required:
Prepare any necessary journal entries for MBH at December 31, 2013, under the equity method of accounting for investments.