Assume that, on January 1, 2021, Matsui Co. paid $1,795,200 for its investment in 74,800 shares of Yankee Inc. Further, assume hat Yankee has 220,000 total shares of stock issued. The book value and fair value of Yankee's identifiable net assets were both 440,000 at January 1, 2021. The following information pertains to Yankee during 2021: Net income Dividends declared and paid Market price of common stock on 12/31/2021 Multiple Choice What amount would Matsui report in its year-end 2021 balance sheet for its investment in Yankee? $2,081,200. $1,949,200. $220,000 $ 66,000 $ $1,847,560. 26/share

Assume that, on January 1, 2021, Matsui Co. paid $1,795,200 for its investment in 74,800 shares of Yankee Inc. Further, assume hat Yankee has 220,000 total shares of stock issued. The book value and fair value of Yankee's identifiable net assets were both 440,000 at January 1, 2021. The following information pertains to Yankee during 2021: Net income Dividends declared and paid Market price of common stock on 12/31/2021 Multiple Choice What amount would Matsui report in its year-end 2021 balance sheet for its investment in Yankee? $2,081,200. $1,949,200. $220,000 $ 66,000 $ $1,847,560. 26/share

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter13: Investments And Long-term Receivables

Section: Chapter Questions

Problem 2MC: During 2021, Anthony Company purchased debt securities as a long-term investment and classified them...

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