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Compute the result of the sale transaction

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Reference no: EM133140157

Question - Timor company owns 30% of Sin Company, the balance of the Investment account on 1/1/2014 was $210,000. At the end of 2014 the net income of Sin was $100,000 and the annual cash dividends $40,000.

ON 1/9/2014 Timor sold 15% of his share for $50,000 cash.

Required -

1 - Compute the result of the sale transaction?

2 - The journal entry for the sale of these share?

3 - The investment balance after the sale?

Reference no: EM133140157

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