Jill Company owns an equity investment in Jack Company and it is being properly reported using the
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Question:
Jill Company owns an equity investment in Jack Company and it is being properly reported using the equity method. Here is the relevant data from the first year of ownership:
% of Jack's stock owned by Jill | 30% |
Jack's net income | $500,000 |
Jack's cash dividends paid | $50,000 |
Amount Jill paid for the stock | $100,000 |
What is the balance in the Investment in Jack account at year end?
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