On January 1, 2012, Garr Company purchased 5,000 shares of Cey Company stock for $300,000. Garr investment
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On January 1, 2012, Garr Company purchased 5,000 shares of Cey Company stock for $300,000. Garr investment represents 30 percent of the total outstanding shares of Cey. During 2012, Cey paid total dividends of $100,000 and reported net income of $300,000. What revenue does Garr report related to this investment and what is the amount to be reported as an investment in Cey stock at December 31.
Related Book For
Accounting Principles
ISBN: 978-1119411482
13th edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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