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Business, 11.11.2019 21:31 hardwick744

The summarized balance sheets of goebel company and dobbs company as of december 31, 2018 are as follows:

goebel company
balance sheet
december 31, 2018

$2,400,000

$ 300,000
capital ,200,000
retained earnings.900,000

$2,400,000

dobbs company
balance sheet
december 31, 2018

$1,800,000

$410,000
capital ,150,000
retained earnings.240,000

$1,800,000

if goebel company acquired a 20% interest in dobbs company on december 31, 2018 for $290,000 and during 2019 dobbs company had net income of $150,000 and paid a cash dividend of $60,000, applying the fair value method would give a debit balance in the equity investments (dobbs) account at the end of 2019 of

1. $290,000.
2. $320,000.
3. $308,000.
4. $230,000.

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The summarized balance sheets of goebel company and dobbs company as of december 31, 2018 are as fol...
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