Jackson Inc. purchased 30,000 shares of common stock of the Pixel Corporation for$10 per share on January 2, 2020. During 2020, Pixel had 100,000 shares ofcommon stock outstanding, reported net income of $200,000, and paid cashdividends of $100,000. The fair value of Pixel stock on December 31, 2020 is $12per share.On December 31, 2020, what will Jackson report on its Balance Sheet for itsinvestment in Pixel?How much revenue should Jackson report for 2020 on its investment in Pixel?Round your answers to the nearest whole number. Dot not use dollar signs($) orcommas(,).Blank # 1Blank # 2

calculation of revenue from investment and investment shown in balance sheet are as follows

Jackson Inc. purchased 30,000 shares of common stock of the Pixel Corporation $10 per share on January 2, 2020. During 2020, Pixel had 100,000 shares of common stock outstanding, reported net income of $200,000, and paid cash dividends of $100,000. The fair value of Pixel stock on December 31, 2020 is $1: per share. On December 31, 2020, what will Jackson report on its Balance Sheet for its investment in Pixel? How much revenue should Jackson report for 2020 on its investment in Pixel? Round your answers to the nearest whole number. Dot not use dollar signs($) or commas(,).

Jackson Inc. purchased 30,000 shares of common stock of the Pixel Corporation $10 per share on January 2, 2020. During 2020, Pixel had 100,000 shares of common stock outstanding, reported net income of $200,000, and paid cash dividends of $100,000. The fair value of Pixel stock on December 31, 2020 is $1: per share. On December 31, 2020, what will Jackson report on its Balance Sheet for its investment in Pixel? How much revenue should Jackson report for 2020 on its investment in Pixel? Round your answers to the nearest whole number. Dot not use dollar signs($) or commas(,).

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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