Question: Time: 05:47 PM / Remaining: 12 m Question 10 Crane, Inc. acquired 20% of Bramble Corporation's voting stock on January 1, 2021 for $990000. During

Time: 05:47 PM / Remaining: 12 m Question 10 Crane, Inc. acquired 20% of Bramble Corporation's voting stock on January 1, 2021 for $990000. During 2021, Bramble earned $397000 and paid dividends of $248000. Crane's 20% interest in Bramble gives Crane the ability to exercise significant influence over Bramble 's operating and financial policies. During 2022, Bramble earned $497000 and paid cash dividends of $148000 on April 1 and $148000 on October 1. On July 1, 2022, Crane sold half of its stock in Bramble for $657000 cash. The carrying amount this investment in Crane's December 31, 2021 balance sheet should be $1089400 $990000 O $1069400. O $1019800 Click you would like to Show Work for this question: Open Show Work SUBMIT ANSWER Question Attempts: 0 of 1 used
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
