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On January 1, 2014, TXU Europe Corporation purchased 40% of the outstanding stock of Alberta Power ...

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On January 1, 2014, TXU Europe Corporation purchased 40% of the outstanding stock of Alberta Power ...

On January 1, 2014, TXU Europe Corporation purchased 40% of the outstanding stock of Alberta Power Pool Corporation for $800,000. Net income reported by Alberta Power Pool Corporation for 2014 and 2015 was, respectively, $100,000 and $125,000. Dividends paid by Alberta Power Pool Corporation during 2014 and 2015 were, respectively, $60,000 and $75,000. The long-term investment will appear on TXU Europe Corporation's December 31, 2014, balance sheet at:
A) $776,000
B) $840,000
C) $800,000
D) $816,000

Textbook

Financial Accounting, Canadian Edition

Edition: 5^th

Authors: Harrison, Horngren, Thomas, Berberich, Seguin

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