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Unformatted text preview: 14-21. Journal Entriesa. Investment in Associate6,000,000Cash6,000,000b. Investment in Associate750,000Investment Income750,000c. Cash 450,000Investment in Associate450,000d. Investment Income200,000Investment in Associate200,0002. Share in Net Income750,000Amortization of Patent (2,000,000/10)(200,000)Investment Income550,0003. Acquisition Cost6,000,000Share in Net Income (5M*15%)750,000Share in Cash Dividend (3M*15%)(450,000)Amortization of Patent (2,000,000/10)(200,000)Carrying Value6,100,000Interest Acquired (30,000/200,000)15%Acquisition Cost6,000,000Book Value of Net Asset Acquired4,000,000Excess of Cost applicable to patent2,000,00014-131. Journal Entriesa. Investment in Associate5,000,000Cash5,000,000b. Investment in Associate1.200,000Investment Income1,200,000c. Cash 300,000Investment in Associate300,000d. Investment Income150,000Investment in Associate150,0002. Share in Net Income1,200,000Amortization of Patent (2,000,000/10)(150,000)Investment Income1,050,0003. Acquisition Cost...
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This note was uploaded on 08/14/2011 for the course ECON 101 taught by Professor Profkinner during the Spring '11 term at Athens Tech.
- Spring '11