of Perry Co, and did obtain significant influence. The investment is intended as a long-term investment. The stock was purchased for $100,000, and represents a 40% ownership stake. Perry made $50,000 of net income in 2018, and paid dividends of $20,000. The price of Perry’s stock increased from $5 per share at the beginning of the year, to $6 per share at the end of the year.
-Prepare the January 1 and December 31 general journal entries for Carter Company.
-How much should the Carter Company report on the balance sheet for the investment in Perry at the end of 2018?
Hi there! Click one of our representatives below and we will get back to you as soon as possible.