Solved: Common stock of ely inc 30 ownership cost 210000 equity, Accounting Basics

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Common stock of ely inc 30 ownership cost 210000 equity

Gowdy Corporation has the following long-term investments:

(1) Common stock of Dixen Co. (10% ownership) held as available-for-sale securities, cost $108,000, fair value $115,000.

(2) Common stock of Ely Inc. (30% ownership), cost $210,000, equity $270,000. Prepare the investments section of the balance sheet.

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Accounting Basics: Common stock of ely inc 30 ownership cost 210000 equity

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Accounting Basics: Common stock of ely inc 30 ownership cost 210000 equity

Reference No:- TGS0795234

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