Patton corporation owns 3000 of the 10000 outstanding, Ask an Expert

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Patton Corporation owns 3,000 of the 10,000 outstanding shares of Forman Corporation. During 2013, Forman Corporation earns $1,500,000 and pays cash dividends of $120,000. What amount should Patton show in the Forman investment account at December 31, 2013 if the beginning of the year balance in the account was $800,000?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M942268

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