Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. on january 1, 2021, fargo corporation purchased a

On January 1, 2021, Fargo Corporation purchased a significant influence shares investment in Concord Corporation...

60.1K

Verified Solution

Question

Accounting

image
On January 1, 2021, Fargo Corporation purchased a significant influence shares investment in Concord Corporation for $450,000, This investment balance represents 20% of the equity of the Concord Corporation, During 2021, Concord Corporation reported Net Income of $70,000 on November 15, 2021 Concord Corporation paid cash dividends of $20,000 to its shareholders, Using this information, what is the 2021 year end balance in Fargo Corporations Investment in Concord Corporation account? Enter as whole dollars (no cents), Your

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students