On january 1 2011 nana company paid 100000 for 8000 shares, Ask an Expert

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On January 1, 2011, Nana Company paid $100,000 for 8,000 shares of Papa Company common stock. These securities were classified as trading securities. The ownership in Papa Company is 10%. Papa reported net income of $52,000 for the year ended December 31, 2011. The fair value of the Papa stock on that date was $45 per share. What amount will be reported in the balance sheet of Nana Company for the investment in Papa at December 31, 2011?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9450696

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