As a long-term investment, Greek Manufacturing purchased 5,250 of the 15,000 outstanding voting shares of Italian...
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As a long-term investment, Greek Manufacturing purchased 5,250 of the 15,000 outstanding voting shares of Italian Company at $26.5 per share on January 1, 2019. At the end of 2019, Italian Company reported net income of $126,000 and declared and paid dividends of $16,500. The market price of the Italian Company stock at the end of 2019 was $29.5 per share. Calculate the net balance in Greek Manufacturing's investment account at the end of 2019. As a long-term investment, Greek Manufacturing purchased 5,250 of the 15,000 outstanding voting shares of Italian Company at $26.5 per share on January 1, 2019. At the end of 2019, Italian Company reported net income of $126,000 and declared and paid dividends of $16,500. The market price of the Italian Company stock at the end of 2019 was $29.5 per share. Calculate the net balance in Greek Manufacturing's investment account at the end of 2019.
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Related Book For
Financial Reporting And Analysis
ISBN: 9781260247848
8th Edition
Authors: Lawrence Revsine, Daniel Collins, Bruce Johnson, Fred Mittelstaedt, Leonard Soffer
Posted Date:
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