On January 1, 2020, Apple Inc. purchased 15% of the voting shares of Pears Inc. for $87,000. Apple Inc. does not have significant influence over Pears Inc. Apple’s net income and declared dividends for the following three years are as follows Net Income Dividends 2019 $10,000 $70,000 2018 $70,000 $80,000 2017 $50,000 $20,000 1. What is the journal entry to record Apple's share of Pear's dividends for 2017 2. What is the journal entry to record Apple's share of Pear's net income for 2017 (if any)?
On January 1, 2020, Apple Inc. purchased 15% of the voting shares of Pears Inc. for $87,000. Apple Inc. does not have significant influence over Pears Inc. Apple’s net income and declared dividends for the following three years are as follows
Net Income Dividends
2019 $10,000 $70,000
2018 $70,000 $80,000
2017 $50,000 $20,000
1. What is the
2. What is the journal entry to record Apple's share of Pear's net income for 2017 (if any)?
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