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  3. 1. on january 1, tub company paid 1,000,000 for 60

1. On January 1, Tub Company paid 1,000,000 for 60,000 shares of beach voting common...

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Accounting

1. On January 1, Tub Company paid 1,000,000 for 60,000 shares of beach voting common stock which represents a 30% investment. No allocation to goodwill or other specific account was made . Significant influence over Beach is achieved by this acquisition and so Tub applies the equity method . Beach declares a $4 per share dividend during the year and reported net Income of $ 600,000 . What is the balance in the investment beach account found on tubs financial records as of december 31?

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