On January 1, Belleville Company paid $1,580,000 to acquire 79,000 shares of O'Fallon's voting common stock,...

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On January 1, Belleville Company paid $1,580,000 to acquire 79,000 shares of O'Fallon's voting common stock, which represents a 40 percent investment. No allocations to goodwill or other specific accounts were made. Significant influence over O'Fallon is achieved by this acquisition, and so Belleville applies the equity method. O'Fallon declared a $1 per share dividend during the year and reported net income of $582,000. What is the balance in the Investment in O'Fallon account found in Belleville's financial records as of December 31? Multiple Choice $1,853,800 $1,793,800. $1,812,800 $1,733,800. On January 1, Belleville Company paid $1,580,000 to acquire 79,000 shares of O'Fallon's voting common stock, which represents a 40 percent investment. No allocations to goodwill or other specific accounts were made. Significant influence over O'Fallon is achieved by this acquisition, and so Belleville applies the equity method. O'Fallon declared a $1 per share dividend during the year and reported net income of $582,000. What is the balance in the Investment in O'Fallon account found in Belleville's financial records as of December 31? Multiple Choice $1,853,800 $1,793,800. $1,812,800 $1,733,800.

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To find the balance in the Investment in OFallon account found in Bellevilles financial records as o... View the full answer