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jen12abc82
14.12.2019 •
Business
Base electronics buys 5,000 shares of stock in blue mission company for $10 per share on january 2 of the current year. base owns 34% of blue mission voting stock and intends to hold on to it for several years. on december 31, the end of the current year, blue mission had $100,000 in net income. what is the journal entry for base electronics to record their share of net income of blue mission company?
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Ответ:
December 31
Dr Equity Investments account (Blue Mission) 34,000 Cr Revenue from Investments account 34,000Explanation:
Since Base owns 34% of Blue, they should record 34% of Blue's net income = $100,000 x 34% = $34,000
December 31
Dr Equity Investments account (Blue Mission) 34,000
Cr Revenue from Investments account 34,000
Equity investments account is an asset account and it increases, therefore it should be debited.
Revenue from investments is a revenue account and all revenue is credited.
Ответ:
The masses of the two objects are the same therefore its acceleration would also become the same. It is an elastic collision because little or less friction occurred in the situation creating kinetic energy.