On January 1, 2017, Fargo Company purchased 30% of the common stock of Fairly Company for $80,000. The purchase was made at book value. Additional information for Fairly Company follows: On Fargo's books, what would be the balance of Investment in Fairly Company at December 31, 2018?

Question

On January 1, 2017, Fargo Company purchased 30% of the common stock of Fairly Company for $80,000. The purchase was made at book value. Additional information for Fairly Company follows:  On Fargo's books, what would be the balance of Investment in Fairly Company at December 31, 2018?

Quizplus · Accepted Answer

The Answer of On January 1, 2017, Fargo Company purchased 30% of the common stock of Fairly Company for $80,000. The purchase was made at book value. Additional information for Fairly Company follows:  On Fargo's books, what would be the balance of Investment in Fairly Company at December 31, 2018?

On January 1, 2017, Fargo Company Purchased 30% of the Common