Assume That Oslo Corp

question 64

Multiple Choice

Assume that Oslo Corp. acquires 30% of Celdon Corp. for $360,000 on January 1, 2017. The journal entry on Oslo's books assuming Celdon's net income for 2017 was $600,000 would include a debit to

• A) No entry is necessary.
• B) Cash for $600,000.
• C) Cash for $180,000.
• D) Stock Investments for $180,000.

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