On January 1, 2013, Tiger Company purchased 6,720 shares of Eagle Corporation's common stock when Eagle had

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On January 1, 2013, Tiger Company purchased 6,720 shares of Eagle Corporation's common stock when Eagle had 22,400 shares outstanding. On that date, the following information pertained to Eagle:

On January 1, 2013, Tiger Company purchased 6,720 shares of

During 2013, Eagle earned net income of $120,000 and paid total dividends of $48,000. Prepare the journal entries of Tiger related to its share of Eagle's net income and dividends in 2013.

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...
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Intermediate Accounting Reporting and Analysis

ISBN: 978-1111822361

1st edition

Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach

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