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Accounting for Passive Investments in Equity Securities Assume that Wu Company purchases 8,500 common shares of Pincus Company for $12 cash per share. Shares
Accounting for Passive Investments in Equity Securities Assume that Wu Company purchases 8,500 common shares of Pincus Company for $12 cash per share. Shares of Pincus Company are actively traded. During the year, Wu receives a cash dividend of $1.30 per common share from Pincus, and the year-end market price of Pincus common stock is $13 per share. How much income does Wu report relating to this investment for the year? $
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Intermediate Accounting
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
16th edition
1118742974, 978-1118743201, 1118743202, 978-1118742976
