western manufacturing company owns 40% of the oustanding common stock of eastern aupply company. during 2018,...
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Journal entry for receipt of cash:
| Particular | Debit | Credit |
| Cash A/c | $50M | |
| To Investment A/c | $50M |
Since one asset is increased and other is increased , the over all effect of this transaction is NIL.on total assets therefore no overall effect on Financial statements
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western manufacturing company owns 40% of the oustanding common
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pays cash dividends of $825000.
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