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Nina [5.8K]
2 years ago
9

Charlie Co. owns 30% of the voting common stock of Turf Services Inc. Charlie uses the equity method to account for its investme

nt. On January 1, 200X, the balance in the investment account was $624,000. During 200X, Turf Services reported net income of $120,000 and paid dividends of $30,000.
Required: What is the balance in the investment account as of December 31, 2009?
Business
1 answer:
masya89 [10]2 years ago
5 0

Answer:

$651,000

Explanation:

The balance in the investment account as at 31st December is calculated as;

Investment account balance January 1, 202X

$624,000

Add:

30% of Turks services inc. $120,000

Net income

$36,000

Less :

30% of $30,000 dividend paid

($9,000)

Investment account balance December, 31 202X

$651,000

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Complete question

Suppose there is an increase in the number of buyers of cars and an increase in the cost of manufacturing cars. The basic graphing model of supply and demand predicts:

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Answer:

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Explanation:

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