On January 1, 2017, Flint Corporation purchased 20% of the outstanding voting common stock of White Company for $600,000. For the year ended December 31,
On January 1, 2017, Flint Corporation purchased 20% of the outstanding voting common stock of White Company for $600,000. For the year ended December 31, 2017, White reported net income of $250,000 and paid cash dividends of $50,000. The fair value of the shares on December 31, 2017 was $590,000. What is the carrying value of Flints investment in White at December 31, 2017?
$600,000
$640,000
$590,000
$660,000
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Authors: Charles T Horngren
6th Edition
0131795082, 978-0131795082
