Assume That Oslo Corp

question 126

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.

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Definitions:

Wins

Achievements or successes in a specified area, often used in a business context to denote significant accomplishments or deals secured.

Supplier Activities

Operations and processes undertaken by suppliers, including production, delivery, and quality control of goods and services.

Incurred

Refers to costs or expenses that have been recognized or accumulated through activities or transactions.

Collaborative Relationships

Partnerships or strategic alliances which aim to achieve mutual benefits through sharing resources, risks, and rewards.