Multiple Choice
Assume that Oslo Corp. acquires 30% of Celdon Corp. for $300,000 on January 1, 2014. The journal entry on Oslo's books assuming Celdon's net income for 2014 was $500,000 would include a debit to
A) No entry is necessary.
B) Cash for $500,000.
C) Cash for $150,000.
D) Stock Investments for $150,000.
Correct Answer:
Verified
Correct Answer:
Verified
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