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27-12-2022
Business

Answered

Crane Company purchased 300 of the 1000 outstanding shares of Swifty Company's common stock for $670000 on January 2, 2021. During 2021, Swifty Company declared dividends of $115000 and reported earnings for the year of $430000.
If Crane Company uses the equity method of accounting for its investment in Swifty Company, its Equity Investments (Swifty) account at December 31, 2021 should be
O $635500.
O $764500.
O $799000.
O $670000.

Answer :

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