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Wildhorse Company acquired a 50% interest in Blossom Corporation on December 31, 2020 for ( $ 1865000 ). During 2021, Blossom had net income of
Wildhorse Company acquired a 50\\% interest in Blossom Corporation on December 31, 2020 for \\( \\$ 1865000 \\). During 2021, Blossom had net income of \\( \\$ 1090000 \\) and paid cash dividends of \\( \\$ 295000 \\). At December 31, 2021, the balance in the investment account should be \\[ \\begin{array}{l} \\$ 2262500 . \\\\ \\$ 2410000 . \\\\ \\$ 2557500 . \\\\ \\$ 1865000 . \\end{array} \\] Step by Step Solution
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Accounting Principles Volume 1
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
9th Canadian Edition
978-1119786818, 1119786819
