on january 1, zabel corporation purchased a 25% equity in

Project Description:

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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