what is the solution to this problem? 7. Barry Corporation...
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what is the solution to this problem?
7. Barry Corporation earns $78,000 and pays cash dividends of $26,000 during 2007. Glenon Corporation owns 3,000 of the 10,000 outstanding shares of Barry. What amount should Glenon show in the investment account at December 31, 2007 if the beginning of the year balance in the account was $104,000? O $156,000. O $119,600. O $104,000. $127,400. 5. On October 1, 2006, Ming Co. purchased 100 of the $1,000 face value, 8% bonds of Loy, Inc., for $117,000, including accrued interest of $2,000. The bonds, which mature on January 1, 2013, pay interest semiannually on January 1 and July 1. Ming used the straight-line method of amortization and appropriately recorded the bonds as available-for-sale. On Ming's December 31, 2008 balance sheet, the carrying value of the bonds is O $112.000 O $110.880. O $109,600. O $113,600
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