Prepare any necessary journal entries for mbh at december

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Reference no: EM13393669

On February 2, 2011 MBH, Inc acquired 30% of the voting common stock of Construction Corporation as a long term investment. Data from Construction Corporation financial statements for the year ended December 31, 2011 include the following:

Net Income $150,000

Dividends $75,000

Require; prepare any necessary journal entries for MBH at December 31, 2011, under the equity method of accounting for investment.

Reference no: EM13393669

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