Blossom Company owns 10000 of the 50000 outstanding shares of Taylor, Inc. common stock. During 2018,...
Blossom Company owns 10000 of the 50000 outstanding shares of
Taylor, Inc. common stock. During 2018, Taylor earns $940000 and
pays cash dividends of $765000.
If the beginning balance in the investment account was $620000, the
balance at December 31, 2018 should be:
Homework Answers
Percentage holding = 10000/50000 = 20%
Ending balance of investment
| Initial investment | 620000 |
| Add: Net income (940000*20%) | 188000 |
| Less: Dividend (765000*20%) | -153000 |
| Balance, December 31,2018 | 655000 |
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