On January 1 2008 Pennington Corporation Purchased 30 Of The

On January 1, 2008, Pennington Corporation purchased 30% of the common shares of Edwards Company for $180,000. During the year, Edwards earned net income of $80,000 and paid dividends of $20,000.
Instructions
Prepare the entries for Pennington to record the purchase and any additional entries related to this investment in Edwards Company in 2008.

Place this order or similar order and get an amazing discount. USE Discount code “GET20” for 20% discount