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Create necessary journal entries on the books

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Question - On December 31, a business has a long-term investment that qualifies an equity security with significant influence. The business owns 25% of the voting stock of the investee.

A. On December 31, assume the investee reports a net income of $100,000 for the year. Please help create necessary journal entries on the books of the investor on December 31.

B. On December 31, assume the investee reports a net loss of $50,000 for the year. Please help create necessary jornal entries on the books of the investor on December 31.

C. On December 31, assume the investee pays a $2,000 cash dividend to the investor. Please help create necessary journal entries on the books of the investor on December 31.

Reference no: EM131768488

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