What amount should patton show in forman investment account


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?

Request for Solution File

Ask an Expert for Answer!!
Accounting Basics: What amount should patton show in forman investment account
Reference No:- TGS042268

Expected delivery within 24 Hours