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On January 1, 2020, Hull Corp. paid $ 516,000 for 24% (56,000 shares) of Oliver Co outstanding common stock. Hull uses the equity method.
On January 1, 2020, Hull Corp. paid $ 516,000 for 24% (56,000 shares) of Oliver Co outstanding common stock. Hull uses the equity method. The investment balance at the end of 2020 was $672,000. On January 1, 2021, Hull sold 14,000 shares of Oliver stock for $10 per share. What is the new investment balance after selling of those 14,000 shares?
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Modern Advanced Accounting In Canada
Authors: Hilton Murray, Herauf Darrell
7th Edition
1259066487, 978-1259066481
