Question
On January 1, Evanston Corporation purchased 40% of the outstanding common stock of the Straw Corporation for $275,000. During the year, Straw Corporation reported net
On January 1, Evanston Corporation purchased 40% of the outstanding common stock of the Straw Corporation for $275,000. During the year, Straw Corporation reported net income of $100,000 and paid cash dividends of $50,000.
The balance of the Investment in the Straw Corporation account on the books of Evanston Corporation at year-end is:
| $220,000 |
| $270,000 |
| $200,000 |
| $295,000 |
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CIA Exam Practice Questions Certified Internal Auditor
Authors: The Internal Audit Foundation
1st Edition
163454045X, 978-1634540452
