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On January 1, 2019, Anna corp purchased 10% (10,000 shares) of Dana corp for $100,000 (classified the investment as FVTPL) On December 31, 2019, Dana
On January 1, 2019, Anna corp purchased 10% (10,000 shares) of Dana corp for $100,000 (classified the investment as FVTPL)
On December 31, 2019, Dana corp was trading $8/share. On January 1, 2020, Anna corp purchased an additional 15% (15,000 shares) for $8/share which gave Anna corp significant influence in Dana corp.
What is the balance in the investment in Dana corp account once the change in ownership takes place?
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Practical Audit Quality Improvement Ensuring Effective Performance Of Internal Audit Functions
Authors: Joyce Gacheru
1st Edition
6138950577, 978-6138950578
