Homework Answers
Ans:
|
Date |
General Journal |
Debit |
Credit |
|
Jan-01 |
Investment in leopard Company Stock |
$ 370,000 |
|
|
Cash |
$ 370,000 |
||
|
Apr-07 |
Cash |
$ 70,000 |
|
|
Investment in Leopard company Stock |
$ 70,000 |
||
|
(175000*40%) |
|||
|
Dec-31 |
Investment in leopard Company Stock |
$ 100,000 |
|
|
income of Leopard Company |
$ 100,000 |
||
|
(250,000*40%) |
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