e. None of the above 2 40% P10. On January 1, 2012, Madoff Investments purchased 200,000 of Ponzi & Sons 500,000 outstanding shares for $26 million. On June 15, 2012, Ponzi & Sons distributed cash dividends of $1 per share. For the year ended December 31, 2012, Ponzi & Sons reported a net loss of $15 million. At the end of the year, the fair value of the shares is $32 million. What amount will Madoff Investment record the investment in Ponzi & Sons at on their December 31, 2012 Balance Sheet? 6 26 w5 a. $32 million b. $26 million c. $20 million d. $19.8 million e. None of the above 26-

e. None of the above 2 40% P10. On January 1, 2012, Madoff Investments purchased 200,000 of Ponzi & Sons 500,000 outstanding shares for $26 million. On June 15, 2012, Ponzi & Sons distributed cash dividends of $1 per share. For the year ended December 31, 2012, Ponzi & Sons reported a net loss of $15 million. At the end of the year, the fair value of the shares is $32 million. What amount will Madoff Investment record the investment in Ponzi & Sons at on their December 31, 2012 Balance Sheet? 6 26 w5 a. $32 million b. $26 million c. $20 million d. $19.8 million e. None of the above 26-

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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