On december 31 2008 rory corp. acquired an 18 interest in, Ask an Expert

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On December 31, 2008, Rory Corp. acquired an 18% interest in Batson Corp. for $100,000 and appropriately applied the cost method. During 2009, Batson had net income of $200,000 and paid cash dividends of $50,000. On the last day of 2009, Rory sold one-half of its investment in Batson Corp. for $180,000. How much should Rory report on its income statement for the year ending December 31, 2009?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M939127

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