Gurnee Corporation has the following long-term investments: (1) Common stockn of Kornas Co. (10% ownership) held as
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Gurnee Corporation has the following long-term investments:
(1) Common stockn of Kornas Co. (10% ownership) held as available-for-sale securities, cost $108,000, fair value $115,000.
(2) Common stock of Kozanecki Inc. (30% ownership), cost $210,000, equity $270,000. Prepare the investments section of the balance sheet.
Related Book For
Accounting Principles
ISBN: 978-0470534793
10th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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