2. On January 2, 2017, Howdy Doody Corporation purchased 12% of Ranger Corporation's common stock for...

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2. On January 2, 2017, Howdy Doody Corporation purchased 12% of Ranger Corporations common stock for $50,000. Rangers net i

3. Smith buys and sells securities. On December 15, 2018, Smith purchased $500,000 of Jones shares and elected the fair value

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Answer 1

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Income in Fair Value+Income from Dividend Q2 Income Income In 2018= (70000-70000)+(60000x12%) 0+7200 =7200 Option B. $7200 An

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