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are ready to be installed, but first we need to close some apps. Update now 2. Ringer Company acquired 40% of the outstanding
1131 Investment in com 370,000 cash 370,000 04167 Cash 70,000 investment (175,000 X 407.) 70,000 100,000 12131 Investment Inc
can you check this to make sure its correct. i also need help with the journal entry names
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Answer #1

Ans:

Date

General Journal

Debit

Credit

Jan-01

Investment in leopard Company Stock

$ 370,000

   Cash

$ 370,000

Apr-07

Cash

$ 70,000

Investment in Leopard company Stock

$ 70,000

(175000*40%)

Dec-31

Investment in leopard Company Stock

$ 100,000

income of Leopard Company

$ 100,000

(250,000*40%)

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