Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. on jan 1, 20x1, aaa corporation purchased 25% of t

On Jan 1, 20x1, AAA Corporation purchased 25% of the common shares of BBB Corporation...

80.2K

Verified Solution

Question

Accounting

On Jan 1, 20x1, AAA Corporation purchased 25% of the common shares of BBB Corporation for $210,000. During 2017, BBB Corporation reported profit of $80,000 and paid cash dividends of $50,000. What is the balance of the investment in Associate-BBB Corp. Common Shares account on the books of AAA Corporation at Dec 31, 20x1?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Calculate V and Z for methyl chloride at 100 ° C and 55bar for the...

Mechanical Engineering
Q

There is a well-known bakery in the town, named Paris Bakery A). what is the daily...

General Management
Q

The integument is a diploid structure that is part of a an OA flower OB...

Biology
Q

The capsid of a virus is.a phospholipid bilayer that surrounds the nucleic acida subunit of...

Biology
Q

Fuzzy Button Clothing Company is analyzing a project that requires an initial investment of 600...

Basic Math
Q

Let f x 2x x 1 x 2 Determine the zeros multiplicities of the zeros...

Calculus
Q

Graph the following function f x a Choose the correct graph below A Af x...

Algebra
Q

Jester Corporation's most recent income statement appears below: Income Statement ...

Accounting
Q

The Widhoise ine is toving to determine its break- even point. The inn has 75...

Accounting
Q

En 20X7, Seawalk Scoops Inc. (SSI) celebr el quinto aniversario de su programa que emplea...

Accounting
Q

Tempo Company's fixed budget (based on sales of 18,000 units) folllows. Compute total variable...

Accounting
Q

Management of Pharoah, Inc., is considering switching to a new production technology. The cost of...

Finance