Tracy co. owns 4000 of the 10000 outstanding shares of penn, Ask an Expert

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Tracy co. owns 4,000 of the 10,000 outstanding shares of penn corp. common stock. during 2010, penn earns 120,000 and pays cash dividends of 40,000. if the beginning balance in the investment account was 240,000 the balance at december 31, 2010 should be?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9400896

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