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all questions and work please. thank you 14. Bloomfield Bakers accounts for its investment in Clor Confectionary under the equity method. The balance of Investment
all questions and work please. thank you
14. Bloomfield Bakers accounts for its investment in Clor Confectionary under the equity method. The balance of "Investment in Cloron Bloomfield financial statement was $150,000 and $165,000 at December 31 of 2010 and 2011, respectively. During 2011 Clor recognized $80,000 of net income and paid dividends of S30,000. Assuming that Bloomfield owned the same percentage of Clor throughout 2011, the percentage ownership must have been: . 18.75%. B. C. D. 50%. 30%. 1590. E. None of the above 15. Dimmy Corporation purchased 1,000 par bonds of Witt Corporation in 2008 for $800 per bond and classified the investment as AFS securities. Witt's market value was $400 per share on December 31, 2009, and $300 on December 31, 2010. On July 1, 2011, Dim sold all of its Witt bonds at $350 per bond. On its 2011 financial statement Dim would report A. Net income-$10,000 B. Loss on sale of 400,000 C. Loss on sale $475,000 D. Loss on sale $450,000. E None of the above
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