Harrison Company owns 20,000 of the 50,000 outstanding shares of Taylor, Inc. common stock. During 2015, Taylor earns $1,200,000 and pays cash dividends of $1,000,000. If the beginning balance in the investment account was $625,000. The balance at December 31, 2015, should be

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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Harrison Company owns 20,000 of the 50,000 outstanding
shares of Taylor, Inc. common stock. During 2015, Taylor
earns $1,200,000 and pays cash dividends of $1,000,000. If
the beginning balance in the investment account was
$625,000. The balance at December 31, 2015, should be
Transcribed Image Text:Harrison Company owns 20,000 of the 50,000 outstanding shares of Taylor, Inc. common stock. During 2015, Taylor earns $1,200,000 and pays cash dividends of $1,000,000. If the beginning balance in the investment account was $625,000. The balance at December 31, 2015, should be
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