On January 1,2015,Barry Corporation paid $800,000 for 100,000 shares of Oak Company's common stock,which represents 40% of Oak's outstanding common stock.For the year ending December 31,2015,Oak reported net income of $200,000 and paid cash dividends of $60,000.Barry should report the investment in Oak Company on its balance sheet at December 31,2015 at:

Question

Quizplus · Accepted Answer

The Answer of On January 1,2015,Barry Corporation paid $800,000 for 100,000 shares of Oak Company's common stock,which represents 40% of Oak's outstanding common stock.For the year ending December 31,2015,Oak reported net income of $200,000 and paid cash dividends of $60,000.Barry should report the investment in Oak Company on its balance sheet at December 31,2015 at:

On January 1,2015,Barry Corporation Paid $800,000 for 100,000 Shares of Oak