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Instructions On January 2, Cohan Company acquired 44% of the outstanding stock of Sanger Company for $754,500. For the year ended December 31, Sanger Company eamed income of $110,400 and paid dividends of $29,700 Prepare the entries for Cohan Company for the purchase of the stock, the share of Sanger income, and the dividends received from Sanger Company. Refer to the Chart of Accounts for exact wording of account titles. X

Instructions On January 2, Cohan Company acquired 44% of the outstanding stock of Sanger Company for $754,500. For the year ended December 31, Sanger Company eamed income of $110,400 and paid dividends of $29,700 Prepare the entries for Cohan Company for the purchase of the stock, the share of Sanger income, and the dividends received from Sanger Company. Refer to the Chart of Accounts for exact wording of account titles. X

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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< Instructions On January 2, Cohan Company acquired 44% of the outstanding stock of Sanger Company for $754,500. For the year ended December 31, Sanger Company eamed income of $110,400 and paid dividends of $29,700. Prepare the entries for Gohan Company for the purchase of the stock, the share of Sanger income, and the dividends received from Sanger Company. Refer to the Chart of Accounts for exact wording of account titles. X Journal DATE
Transcribed Image Text:< Instructions On January 2, Cohan Company acquired 44% of the outstanding stock of Sanger Company for $754,500. For the year ended December 31, Sanger Company eamed income of $110,400 and paid dividends of $29,700. Prepare the entries for Gohan Company for the purchase of the stock, the share of Sanger income, and the dividends received from Sanger Company. Refer to the Chart of Accounts for exact wording of account titles. X Journal DATE
Journal 1 13 4 5 6 DATE DESCRIPTION JOURNAL POST. REF. DEBIT CREDIT
Transcribed Image Text:Journal 1 13 4 5 6 DATE DESCRIPTION JOURNAL POST. REF. DEBIT CREDIT
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