Assume that, on January 1, 2013, Matsui Co. paid $1,200,000 for its investment in 60,000 shares of Yankee Inc. Further, assume that Yankee has 200,000 total shares of stock issued. The book value and fair value of Yankee's identifiable net assets were both $4,000,000 at January 1, 2013. The following information pertains to Yankee during 2013: What amount would Matsui report in its year-end 2013 balance sheet for its investment in Yankee?

Question

Assume that, on January 1, 2013, Matsui Co. paid $1,200,000 for its investment in 60,000 shares of Yankee Inc. Further, assume that Yankee has 200,000 total shares of stock issued. The book value and fair value of Yankee's identifiable net assets were both $4,000,000 at January 1, 2013. The following information pertains to Yankee during 2013:  What amount would Matsui report in its year-end 2013 balance sheet for its investment in Yankee?

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The Answer of Assume that, on January 1, 2013, Matsui Co. paid $1,200,000 for its investment in 60,000 shares of Yankee Inc. Further, assume that Yankee has 200,000 total shares of stock issued. The book value and fair value of Yankee's identifiable net assets were both $4,000,000 at January 1, 2013. The following information pertains to Yankee during 2013:  What amount would Matsui report in its year-end 2013 balance sheet for its investment in Yankee?

Assume That, on January 1, 2013, Matsui Co