Exercise 119

Agee Corporation acquired a 35% interest in Trent Company on January 1, 2018, for $500,000. At that time, Trent had 1,000,000 shares of its $1 par common stock issued and outstanding. During 2018, Trent paid cash dividends of $168,000 and thereafter declared and issued a 5% common stock dividend when the fair value was $2 per share. Trent's net income for 2018 was $360,000. What is the balance in Agee's equity investment account at the end of 2018?

Balance in equity investment account$

Warning

Don't show me this message again for the assignment

OkCancel

Click if you would like to Show Work for this question:Open Show Work

Modify Show Work

Question Attempts: 0 of 1 used Save for later

Submit Answer

Tooltip JS-control [id=_intjsTooltip_1_]

Warning

Your instructor has reset your attempts for this question. The question will reload in the original state.

Click Continue to proceed with the question.

CONTINUE

< img height="1" width="1" style="border-style:none;" alt="" src="//googleads.g.doubleclick.net/pagead/viewthroughconversion/944609404/?value=0&guid=ON&script=0"/>< /div>