On january 1 2011 giggle company purchased 30 of the voting, Ask an Expert

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On January 1, 2011, Giggle Company purchased 30% of the voting common stock of Home Corp. for $1,000,000. Any excess of cost over book value was assigned to goodwill. During 2011, Home paid dividends of $24,000 and reported a net loss of $140,000.

What is the balance in Giggle's investment account on December 31, 2011?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9950539

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