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On 1/1/2019,X Co purchased a 30% interest in Y Co for $340,000.Y reported net income...

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Accounting

On 1/1/2019,X Co purchased a 30% interest in Y Co for $340,000.Y reported net income of $100,000 for 2019 and declared and paid a dividend of $10,000.

X co using the Cost method. In its 31/12/ 2019,balance sheet

what amount should X report as its investment in Y?

Select one:
a. 223,000
b. 340,000
c. 250,000
d. 277,000

Equity investments at acquisitions require direct expenses of registering equity securities be charged to additional paid-in capital

Select one:
True
False

Answer & Explanation Solved by verified expert
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