BUSINESS ADMINISTRATION
FINANCIAL ACCOUNTING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Assume that Horicon Corp. acquired 25% of the common stock of Sheboygan Corp. on January 1, 2017, for $300, 000. During 2017, Sheboygan Corp. reported net income of $160, 000 and paid total dividends of $60, 000. If Horicon uses the equity method to account for its investment, the balance in the investment account on December 31, 2017, will be:
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$300, 000.
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$325, 000.
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$400, 000.
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$340, 000.
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Explanation:
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