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long-term stock investments in 2013 by Bell Corporation

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long-term stock investments in 2013 by Bell Corporation Information pertaining to long-term stock investments in 2013 by Bell Corporation follows: Acquired 18% of the 250,000 shares of common stock of Kansas Company at a total cost of $8 per share on January 1, 2013. On July 1, Kansas Company declared and paid a cash dividend of $2 per share. On December 31, Kansas’s reported net income was $654,000 for the year. Obtained significant influence over Toto Company by buying 30% of Toto’s 100,000 outstanding shares of common stock at a total cost of $22 per share on January 1, 2013. On June 15, Toto Company declared and paid a cash dividend of $1.50 per share. On December 31, Toto’s reported net income was $280,000. Instructions Prepare all necessary journal entries for 2013 for Bell Corporation. Business Assignment Help, Business Homework help, Business Study Help, Business Course Help

long-term stock investments in 2013 by Bell Corporation

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