Question

On January 1, 2014, PurchaseAgent.com acquired 35 percent (800,000 shares) of the common stock of E-Transaction Corporation. The accounting period for both companies ends December 31. Give the journal entries for each of the following transactions that occurred during 2014 for PurchaseAgent.com:
July 2 E-Transaction declared and paid a cash dividend of $5 per share.
Dec. 31 E-Transaction reported net income of $400,000.



$1.99
Sales0
Views93
Comments0
  • CreatedJuly 01, 2014
  • Files Included
Post your question
5000