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Question - Journalize and post transactions

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Question - Journalize and post transactions, under the equity method

On Jan 1, Zabel Corporation purchased a 25% equty in Helbert Corporation for $180,000. At Dec 31, Helbert declared and paid a $60,000 cash dividend and reported net income of $200,000.

1) Journalize the transactions.

2) Determine the amount to be reported as an investment in Helbert stock at December 31.

Reference no: EM132603987

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