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This question was created from Quiz 1 ACCT II UMUC.docx

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This question was created from Quiz 1 ACCT II UMUC.docx https://www.coursehero.com/file/37267059/Quiz-1-ACCT-II-UMUCdocx/

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On January 2, 2010, All Good Company purchased 0,000 shares of the stock of Big Bad
Company, and DID obtain significant influence. The invesunent is intended as a long-
term investment. The stock was purchased for $10 per share, and represents a 30%
ownership stake. Big Bad Company made $200,000 of net income in 2013, and paid
dividends to All Good Company of $20,000 on December 15, 2013. Big Bad Company’s
stock was trading on the open market for $20 per share at the end of the year. Use this
information to determine the book 1value of the investment that should be reported at
year end by All Good Company. Round to nearest whole dollar.
 
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