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Eagle Exporters purchased 120,000 of the 300,000 outstanding shares of Giant Distributors for ...

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Eagle Exporters purchased 120,000 of the 300,000 outstanding shares of Giant Distributors for ...

Eagle Exporters purchased 120,000 of the 300,000 outstanding shares of Giant Distributors for $5,000,000. Eagle has significant influence over Giant and will account for this investment using the equity method. During the year, Giant declared dividends of $100,000 and reported Net Income of $840,000. What is the balance in the Investment in Giant account at year end?
A) $4,624,000
B) $4,704,000
C) $5,376,000
D) $5,296,000

Textbook

Intermediate Accounting

Edition: 1^st

Authors: Gordon, Raedy, Sannella

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han12

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More solutions for this book are available here

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Fernan1999 Author

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5 years ago

Correct

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Thanks for your help!!

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