Glitter Services Pays $1,350,000 to Acquire 35% of Voting Stock

question 2

Multiple Choice

Glitter Services pays $1,350,000 to acquire 35% of voting stock of Grey Investments on March 5, 2016. Which of the following is the correct journal entry for the transaction?

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Definitions:

Campaign Blogs

Online journals or websites where candidates, political parties, or interest groups post updates, opinions, and other content related to a political campaign.

Podcasts

Digital audio or video files made available on the internet for downloading to a computer or mobile device, often as a series with new episodes.

Federal Communications Commission

A U.S. government agency that regulates interstate and international communications by radio, television, wire, satellite, and cable.

Electronic Media

Forms of media that utilize electronics or electromechanical energy for the end user (audience) to access the content, including radio, television, and internet-based media.