Put company paid $220,000 for an 80% interest in SEL Company on July 1, 2011, when SEL

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Put company paid $220,000 for an 80% interest in SEL Company on July 1, 2011, when SEL Company had total equity of $110,000. SEL Company reported earnings of $10,000 for 2011 and declared dividends of $8,000 on November 1, 2011.

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Give the entries to record these facts on the books of put company:

Assuming that put company uses the cost method of accounting for its subsidiaries

Assuming that put company uses the equity method of accounting for its subsidiaries.

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Financial Accounting A User Perspective

ISBN: 978-0470676608

6th Canadian Edition

Authors: Robert E Hoskin, Maureen R Fizzell, Donald C Cherry

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Posted Date: Jan 04, 2019 09:15 AM

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Put company paid $220,000 for an 80% interest in SEL Company on July 1, 2011, when SEL

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