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so confused help Mark, Inc. acquired 25% of Cass Corporation's voting stock on January 1, 2021 for $800,000. During 2021, Cass earned $400,000 and paid
so confused help
Mark, Inc. acquired 25% of Cass Corporation's voting stock on January 1, 2021 for $800,000. During 2021, Cass earned $400,000 and paid dividends of $250,000. Mark's 25% interest in Cass gives Mark the ability to exercise significant influence over Cass's operating and financial policies. During 2022, Cass earned $500,000 and paid cash dividends of $150,000 on April 1 and $150,000 on October 1. On July 1, 2022, Mark sold half of its stock in Cass for $660,000 cash a. The carrying amount of this investment in Mark's December 31, 2021 balance sheet should be $800,000 b. $837,500 $900,000 d. $950,000 C. 1 2Step by Step Solution
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