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Andre45 [30]
3 years ago
9

Blanco Company purchased 200 of the 1,000 outstanding shares of Darby Company's common stock for $600,000 on January 2, 2018. Du

ring 2016, Darby Company declared dividends of $100,000 and reported earnings for the year of $400,000.
If Blanco Company used the fair value method of accounting for its 20% investment in Darby Company, and its fair value at 12/31/18 is $680,000, the Investment (Darby) account on December 31, 2018 should be

a. $580,000.
b. $660,000.
c. $600,000.
d. $680,000.
Business
1 answer:
Kisachek [45]3 years ago
7 0

Answer:

The answer is c. $600,000

good luck ❤

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Answer and Explanation:

The preparation of the multi-step income statement is shown below:

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                             For the Month January 2022

Revenues  

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Less:  

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