Question: On January 1 Zabel Corporation purchased a 25 equity in

On January 1, Zabel Corporation purchased a 25% equity in Helbert Corporation for $180,000. At December 31, Helbert declared and paid a $60,000 cash dividend and reported net income of $200,000.

Instructions
(a) Journalize the transactions.
(b) Determine the amount to be reported as an investment in Helbert stock at December 31.


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  • CreatedJanuary 30, 2014
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