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Prepare the appropriate journal entries on jan

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Question - On January 1, 2015, BeWell Company purchased 30% of common stock of DoingWell Co for $450,000 DoingWell reported net income of $27,000 for the year and paid dividends of $ &9,000. BeWell appropriately uses equity method to record investment in Doing Well.

Prepare the appropriate journal entries on Jan 1, 2015 and December 31, 2015 to record the above transactions.

Reference no: EM132202300

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