Solved: The balance of the stock investments-landon account on the, Accounting Basics

The balance of the stock investments-landon account on the

Question - On January 1, 2010, Garner Corporation purchased 25% of the common stock outstanding of Landon Corporation for $250,000. During 2010, Landon Corporation reported net income of $80,000 and paid cash dividends of $40,000. The balance of the Stock Investments-Landon account on the books of Garner Corporation at December 31, 2010 is

a. $250,000.

b. $290,000.

c. $330,000.

d. $260,000.

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Accounting Basics: The balance of the stock investments-landon account on the

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