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Journalize the transactions for the stock subscription plan for Poplar Company. On April 1, Poplar received subscriptions for 250 shares of $20 par value common stock at $26 per share. The buyer will pay two equal installments on May 1 and July 1. Assume all payments are made as scheduled and the company issues the stock after the July 1 collection.
Equity Method
An accounting technique used by a company to record its investment in another company, where the investment represents a significant influence over the investee.
Consolidated Net Income
The total net income of a parent company and its subsidiaries after elimination of inter-company transactions and accounts.
Net Income
The amount of earnings left over after all expenses and taxes have been subtracted from total revenue.
Dividends
Payments made by a corporation to its shareholders, out of its profit or reserves, usually on a regular basis.
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