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Tara's treasures purchases a 40% interest in Facebook Corp on Jul 1, 2015 for $1, 000,000.00 on Dec 31, 2015. Facebook reports $850,000 in Net
Tara's treasures purchases a 40% interest in Facebook Corp on Jul 1, 2015 for $1, 000,000.00 on Dec 31, 2015. Facebook reports $850,000 in Net Income for the year and declares a $300,000 Dividend to holders of record Dec 1, 20015 and payable Jan 15, 2016. Record all entries using the Equity Method for 2015. How much money will be reported as income on the 2015 Income Statement for Tara's treasures? What is the Carrying value of Investment in Facebook Corp at Dec 31, 2015? Where is the Investment in Facebook Stock reported? (Which Financial Statement?)
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