On January 1,2001,Joyce Inc.paid $600,000 to purchase 25% of Mark Inc's outstanding voting shares.Joyce has significant influence over Mark.On the date of acquisition,Mark's net assets were valued at $2,000,000.Any Acquisition Differential was allocated to Plant & Equipment,with a remaining useful life of 5 years.Mark's earnings for 2001 and 2002 were $100,000 and $200,000 respectively.Mark paid dividends in the amount of $20,000 and $10,000 during 2001 and 2002,respectively.
Required:
Calculate the balance in Joyce's Investment account as at December 31,2002.

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The Answer of On January 1,2001,Joyce Inc.paid $600,000 to purchase 25% of Mark Inc's outstanding voting shares.Joyce has significant influence over Mark.On the date of acquisition,Mark's net assets were valued at $2,000,000.Any Acquisition Differential was allocated to Plant & Equipment,with a remaining useful life of 5 years.Mark's earnings for 2001 and 2002 were $100,000 and $200,000 respectively.Mark paid dividends in the amount of $20,000 and $10,000 during 2001 and 2002,respectively.
Required:
Calculate the balance in Joyce's Investment account as at December 31,2002.