On January 1 of the current year,Gardner Corporation purchased 29% of the common stock outstanding of Lance Corporation for $300,000.During the year,Lance Corporation reported net income of $80,000 and declared and paid cash dividends of $37,000.The balance of the Equity-method Investment account at December 31 for the current year,is:
A)$300,000.
B)$312,470.
C)$323,200.
D)$333,930.

Question

Quizplus · Accepted Answer

$300,000 + ($80,000 × 29%)- ($37,000 × 29%)= $312,470

On January 1 of the Current Year,Gardner Corporation Purchased 29