/ilm/takeAssignment/takeAssignmentMain.do?invoker &takeAssignmentSessionLocator &inprogress... A eBook Show Me How Entries for equity investments: 20%-50% ownership At a...

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/ilm/takeAssignment/takeAssignmentMain.do?invoker &takeAssignmentSessionLocator &inprogress... A eBook Show Me How Entries for equity investments: 20%-50% ownership At a total cost of $1,856,000, Herrera Corporation acquired 128,000 shares of Tran Corp. common stock as a long-term investment. Tran Corp. has 400,000 shares of common stock outstanding, including the shares acquired by Herrera Corporation. a. Journalize the entries by Herrera Corporation to record the following information: If an amount box does not require an entry, leave it blank. 1. Tran Corp. reports net income of $3,340,000 for the current period. 33 2. A cash dividend of $1.50 per common share is paid by Tran Corp. during the current period. /ilm/takeAssignment/takeAssignmentMain.do?invoker &takeAssignmentSessionLocator &inprogress... A eBook Show Me How Entries for equity investments: 20%-50% ownership At a total cost of $1,856,000, Herrera Corporation acquired 128,000 shares of Tran Corp. common stock as a long-term investment. Tran Corp. has 400,000 shares of common stock outstanding, including the shares acquired by Herrera Corporation. a. Journalize the entries by Herrera Corporation to record the following information: If an amount box does not require an entry, leave it blank. 1. Tran Corp. reports net income of $3,340,000 for the current period. 33 2. A cash dividend of $1.50 per common share is paid by Tran Corp. during the current period.