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QUESTION
9. If Doleman Company acquired a 20% interest in Barnes Company on December 31, 2000 for $45,000 and during 2002 Barnes Company had net income of
9. If Doleman Company acquired a 20% interest in Barnes Company on December 31, 2000 for $45,000 and during 2002 Barnes Company had net income of $25,000 and paid a cash dividend of $10,000, applying the fair value method would give a debit balance in the Investment in Barnes Company Stock account at the end of 2002 ofA) $37,000. B) $50,000. C) $48,000. D) none of the above Please show steps.
QUESTION:Doleman Company acquired a 20% interest in Barnes Company on December 31, 2000 for $45,000 and during 2002Barnes Company had net income of $25,000 and paid a cash dividend of $10,000,...