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Business, 08.10.2019 18:00, pattydixon6
On january 3, 2018, roberts company purchased 30% of the 100,000 shares of common stock of thomas corporation, paying $1,500,000. there was no goodwill or other cost allocation associated with the investment. roberts has significant influence over thomas. during 2018, thomas reported net income of $300,000 and paid dividends of $100,000. on january 4, 2019, roberts sold 15,000 shares for $800,000. what is the appropriate journal entry to record the sale of the 15,000 shares?
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On january 3, 2018, roberts company purchased 30% of the 100,000 shares of common stock of thomas co...
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