Wildhorse Company acquired a 50% interest in Blossom Corporation on December 31, 2020 for $1865000. During 2021, Blossom had net income of $1090000 and paid cash dividends of $295000. At December 31, 2021, the balance in the investment account should be $2262500. $2410000. $2557500. $1865000.
Wildhorse Company acquired a 50% interest in Blossom Corporation on December 31, 2020 for $1865000. During 2021, Blossom had net income of $1090000 and paid cash dividends of $295000. At December 31, 2021, the balance in the investment account should be $2262500. $2410000. $2557500. $1865000.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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
Transcribed Image Text:Wildhorse Company acquired a 50% interest in Blossom Corporation on December 31, 2020 for
$1865000. During 2021, Blossom had net income of $1090000 and paid cash dividends of
$295000. At December 31, 2021, the balance in the investment account should be
O O O
$2262500.
$2410000.
$2557500.
$1865000.
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