Business, 11.02.2021 22:40, Zieken993

Wildhorse Locomotive Corporation purchased for $604,000 a 40% interest in Lopez Railways, Inc. This investment enables Wildhorse Locomotive to exert significant influence over Lopez Railways. During the year, Lopez Railways earned net income of $159,000 and paid dividends of $27,000. Prepare ZaneLocomotive’s journal entries related to this investment.

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Wildhorse Locomotive Corporation purchased for $604,000 a 40% interest in Lopez Railways, Inc. This...