Blanco Company purchased 300 of the 1,000 outstanding shares…
Blanco Company purchased 300 of the 1,000 outstanding shares of Darby Company’s common stock for $600,000 on January 1, 2021. During 2021, Darby Company declared dividends of $100,000 and reported earnings for the year of $400,000. The market price of the Darby Company’s common stock was $2,500 per share on December 31, 2021. What should Blanco Company’s investment in Darby Company be at December 31, 2021?
Read DetailsAssume that, on January 1, 20X8, Matsui Co. paid $1,200,000…
Assume that, on January 1, 20X8, Matsui Co. paid $1,200,000 for its investment in 60,000 shares of Yankee Inc. Further, assume that Yankee has 200,000 total shares of stock issued. The following information pertains to Yankee during 20X8: Net Income $200,000 Dividends declared and paid $60,000 Market price of common stock on 12/31/20X8 $22/share What amount would Matsui report in its year-end 20X8 balance sheet for its investment in Yankee?
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