BUSI 1043 (Unit 8) Quiz 3 Section 3A - INTRODUCTION TO FINANCIAL ACCOUNTING BUSI 1043 \u2013 Section 3A Quiz 3(Unit 8 Student\u2019s name Karmjeet

BUSI 1043 (Unit 8) Quiz 3 Section 3A - INTRODUCTION TO...

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INTRODUCTION TO FINANCIAL ACCOUNTING BUSI 1043 – Section 3A Quiz 3 (Unit 8) Student’s name: Karmjeet Student’s id: 2019042329 Question 1 (15 marks)On January 2, Dundar Mifflin acquired 30% of the outstanding stock of Steve & Company for $105,000. For the year ending, December 31, Steve & Company earned income of $68,000 and paid dividend $16,000. 1.Prepare the entries for Dundar Mifflin for the purchase of the stock, share of Steve & Company income and dividends received from Steve & Company.

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