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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?
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