On January 1, Crane Corporation purchased a 25% equity in Helbert Corporation for $150,500. At December...

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On January 1, Crane Corporation purchased a 25% equity in Helbert Corporation for $150,500. At December 31, Helbert declared and paid a $50,200 cash dividend and reported net income of $160,000, Date Account Titles and Explanation Debit Credit 150500 Jan. 1 Stock Investments 150500 Cash Dec. 31 (To record dividends received) (b) Determine the amount to be reported as an investment in Helbert stock at December 31. Investment in Helbert, December 31 2$ On January 1, Crane Corporation purchased a 25% equity in Helbert Corporation for $150,500. At December 31, Helbert declared and paid a $50,200 cash dividend and reported net income of $160,000, Date Account Titles and Explanation Debit Credit 150500 Jan. 1 Stock Investments 150500 Cash Dec. 31 (To record dividends received) (b) Determine the amount to be reported as an investment in Helbert stock at December 31. Investment in Helbert, December 31 2$

Answer rating: 100% (QA)

a Journal Entries Date Accounts Debit Credit Jan1 Stock investments 150500 Cash 150500 To rec... View the full answer