Mission Inc. earns $600,000 and pays cash dividends of $150,000
during 2013. Cox Corporation owns 70,000 of the 210,000 outstanding
shares of Mission.
What amount should Cox show in the investment account at December
31, 2013 if the beginning of the year balance in the account was
$40,000?
$190,000
$200,000
$175,000
$180,000
15-
Multiple Choice Question 108
The contra-account, Fair value Adjustment, is also called a(n)
valuation account.
offset account.
opposite account.
adjustment account.
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ACC 557 Week 9 Chapter 13 (E13-3, E13-4, E13-6, P13-3A)
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