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Make any necessary year-end entries

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Question - On 1/5/2021, Gordon purchased 30% of the outstanding shares of Ramsey Corporation for $70,000. Gordon's accounting staff correctly recorded that purchase. At year end, the market value of shares of Ramsey stock owned by Gordon was $87,000. Ramsey's net income for 2021 was $160,000. Ramsey did not pay any dividends in 2021. Make any necessary year-end entries.

Reference no: EM133176186

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