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On January, 01, 2019, Y Corporation acquires 0.40 of X corporation voting common shares 150000 shares at $2 fair market value. On December 31, 2019 the net income of X was $500,000. And X declared and paid $300000 for all its investors. The stock investment account on December, 31 is O a. $500,000 Ob. $380,000 Oc. $830,000 O d. $1,050,00

On January, 01, 2019, Y Corporation acquires 0.40 of X corporation voting common shares 150000 shares at $2 fair market value. On December 31, 2019 the net income of X was $500,000. And X declared and paid $300000 for all its investors. The stock investment account on December, 31 is O a. $500,000 Ob. $380,000 Oc. $830,000 O d. $1,050,00

FINANCIAL ACCOUNTING
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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On January, 01, 2019, Y Corporation acquires 0.40 of X corporation voting common shares 150000 shares at $2 fair market value. On December 31, 2019 the net income of X was $500,000. And X declared and paid $300000 for all its investors. The stock investment account on December, 31 is a. $500,000 O b. $380,000 O c. C. $830,000 O d. $1,050,00
Transcribed Image Text:On January, 01, 2019, Y Corporation acquires 0.40 of X corporation voting common shares 150000 shares at $2 fair market value. On December 31, 2019 the net income of X was $500,000. And X declared and paid $300000 for all its investors. The stock investment account on December, 31 is a. $500,000 O b. $380,000 O c. C. $830,000 O d. $1,050,00
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