On January 2, Harmony Company purchased 5500 shares of Stewart Company (representing 20% of the total outstanding

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On January 2, Harmony Company purchased 5500 shares of Stewart Company (representing 20% of the total outstanding shares) for $10 per share plus a $50 commission. Harmony Company is able to exercise significant influence over the policies of Stewart Company. The following events took place during the year:

December 15 Stewart Company paid a dividend of $0.50 per share.

December 31 Stewart Company announced that its earnings for the year were $43000.

Compute the amount of revenue that Harmony Company will report as a result of the above transactions.

The amount of revenue is $

What is the ending balance in the Investment account?

The ending balance is $

Posted Date: May 19, 2024 05:14 PM

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On January 2, Harmony Company purchased 5500 shares of Stewart Company (representing 20% of the total outstanding

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