Pacer Company purchased 300 of the 1, 000 outstanding shares of Queen Company's common stock for $80,000 on January 2, 2016. During 2017, Queen Company declared dividends of $8,000 and reported earnings for the year of $20,000.

If Pacer Company uses the equity method of accounting for its investment in Queen Company, its Investment in Queen Company account at December 31, 2017 should be?

Answer rating: 100% (QA)

Equity Method Investment in Queen Shares purchased Shar... View the full answer