What entry recorded by ryan for recognizing income of spice, Financial Accounting

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What entry recorded by ryan for recognizing income of spice

Problem

January 1, 2016, Ryan Corporation purchases 40% of outstanding stock of Spice Corporation for 560,000 and accounts for the investment using the equity method. Spice reported a net income of $120,000 for the year 2016 and distributed a total cash dividend of $15,000 to its stockholders. What is the entry recorded by Ryan for recognizing the income of Spice?

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Financial Accounting: What entry recorded by ryan for recognizing income of spice

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Financial Accounting: What entry recorded by ryan for recognizing income of spice

Reference No:- TGS03238919

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