Question
2019, Company A purchased 40% outstanding stock of company B for $ 700,000 Company B reported Net income 2019 and 2020 100,000 and 120,000 Dividend
2019, Company A purchased 40% outstanding stock of company B for $ 700,000
Company B reported Net income 2019 and 2020 100,000 and 120,000
Dividend paid by Company B during 2019 and 2020, $ 50,000 and 70,000 . Assumed on Dec. 31. 2020, Company A sells its investment in Company B for $500,000. When company A sells its investment, what will they credit Investment in associate for?
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Financial Accounting
Authors: Dr Carl S. Warren, Dr James M. Reeve, Philip E. Fess
9th Edition
032418803X, 978-0324188035
