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Prepare the entries for olson company for the purchase

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Reference no: EM132544307

Question 1: On January 2, Olson Company acquired 35% of the outstanding stock of Bryant Company for $140,000. For the year ended December 31, Bryant Company earned income of $44,000 and paid dividends of $20,000. Prepare the entries for Olson Company for the purchase of the stock, the share of Bryant income, and the dividends received from Bryant Company.

Reference no: EM132544307

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