Solved: Agee corp acquired a 35 interest in trent company on jan 1, Accounting Basics

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Agee corp acquired a 35 interest in trent company on jan 1

Question - Agee Corp acquired a 35% interest in Trent Company on Jan 1, 2018, for $500,000. At that time, Trent had 1,000,000 share of its $1 par common stock issued and outstanding. During 2018, Trent paid cash dividends of $168,000 and thereafter declared and issued a 5% common stock dividend when the fair value was $2 per share> Trent's net income for 2018 was $360,000. What is the balance in Agee's equity investment account at the end of 2018?

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Accounting Basics: Agee corp acquired a 35 interest in trent company on jan 1

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