What amount will be reported in the balance sheet, Accounting Basics

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What amount will be reported in the balance sheet

On January 1, 2011, Nana Company paid $100,000 for 8,000 shares of Papa Company common stock. These securities were classified as trading securities. The ownership in Papa Company is 10%. Papa reported net income of $52,000 for the year ended December 31, 2011. The fair value of the Papa stock on that date was $45 per share. What amount will be reported in the balance sheet of Nana Company for the investment in Papa at December 31, 2011?

A. $284,400

B. $360,000

C. $300,000

D. $315,600

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Accounting Basics: What amount will be reported in the balance sheet

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Accounting Basics: What amount will be reported in the balance sheet

Reference No:- TGS062614

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: What amount will be reported in the balance sheet

Reference No:- TGS062614

Recent Questions Asked Accounting Basics

Q : Five non-bank financial intermediaries

Q : Capital loss carryforward from a previous year

Q : Consumer and producer surplus

Q : Explain the money multiplier

Q : What amount will be reported in the balance sheet

Q : Cost-push and demand-pull inflation

Q : Investment account and net income

Q : Problem under the equity method

Q : Equilibrium effects on consumption and hours

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