Business, 29.11.2019 02:31, makaylahendrix8808
As a long-term investment at the beginning of the 2018 fiscal year, florists international purchased 30% of nursery supplies inc.'s 8 million shares for $56 million. the fair value and book value of the shares were the same at that time. during the year, nursery supplies earned net income of $40 million and distributed cash dividends of $1.25 per share. at the end of the year, the fair value of the shares is $52 million.
required:
prepare the appropriate journal entries from the purchase through the end of the year.
Answers: 2
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As a long-term investment at the beginning of the 2018 fiscal year, florists international purchased...
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