On January 1, 2011, Garner Corporation purchased $25 \%$ of the ordinary shares outstanding of Landon Corporation for $\$ 250,000$ . During 2011, Landon Corporation reported net income of $\$ 80,000$ and paid cash dividends of $\$ 40,000$ . The balance of the Share Investments Landon account on the books of Garner Corporation at December 31.2010 is

Question

On January 1, 2011, Garner Corporation purchased

25 \%

of the ordinary shares outstanding of Landon Corporation for

\$ 250,000

. During 2011, Landon Corporation reported net income of

\$ 80,000

and paid cash dividends of

\$ 40,000

. The balance of the Share Investments Landon account on the books of Garner Corporation at December 31.2010 is

Quizplus · Accepted Answer

The Answer of On January 1, 2011, Garner Corporation purchased $ 25 \% $ of the ordinary shares outstanding of Landon Corporation for $ \$ 250,000 $. During 2011, Landon Corporation reported net income of $ \$ 80,000 $ and paid cash dividends of $ \$ 40,000 $. The balance of the Share Investments Landon account on the books of Garner Corporation at December 31.2010 is

On January 1, 2011, Garner Corporation Purchased 25% 25 \% 25%

On January 1, 2011, Garner Corporation Purchased $25 \%$