Business, 09.04.2020 03:53 deaishaajennings123
On January 2, Cohan Company acquired 37% of the outstanding stock of Sanger Company for $715,500. For the year ended December 31, Sanger Company earned income of $108,700 and paid dividends of $26,400.
Prepare the entries for Cohan Company for the purchase of the stock, the share of Sanger income, and the dividends received from Sanger Company. Refer to the Chart of Accounts for the exact wording of account titles.
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On January 2, Cohan Company acquired 37% of the outstanding stock of Sanger Company for $715,500. Fo...
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