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On February 5, McCracken Co. purchases 25 percent of Bradley Company common stock at a total cost of $90,000. Write the necessary adjusting entry.
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On February 5, McCracken Co. purchases 25 percent of Bradley Company common stock at a total cost of $90,000. Write the necessary adjusting entry.

User Rhinosaurus
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3 votes

Answer:

February 5

Dr Investment in Equity Shares $90,000

Cr Cash $90,000

Step-by-step explanation:

Preparation of the necessary adjusting entries

Based on the information given we were told that the Company common stock was purchased at a total cost of $90,000 which means that the appropriate adjusting journal entry will be:

February 5

Dr Investment in Equity Shares $90,000

Cr Cash $90,000

:

User Rohit Yadav
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