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erma4kov [3.2K]
3 years ago
8

On January 6, 2017, Michael Company acquired 4,000 shares (or 10%) of George Corporation's common stock at $25 per share. The se

curities are classified as trading securities. On October 24, 2017, George declared and paid a cash dividend of $1 per share. On December 31, 2017, the market value of George’s common stock was $35 per share. George also reported a net income of $250,000 for 2017. At what value should Michael report the investment in George's common stock on its December 31, 2017 balance sheet?
Business
1 answer:
yanalaym [24]3 years ago
3 0

Answer:$140,000

Explanation:

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If you stop and take the time to ask yourself if you are being realistic about
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4 years ago
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son4ous [18]

Answer:

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Explanation:

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Cash Budget for March

Budgeted Receipts                                    $116,000

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therefore,

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