Charlie Co. owns 30% of the voting common stock of Turf Services Inc. Charlie uses the equity method to account for its investment. On January 1, 2011, the balance in the investment account was $624,000. During 2011, Turf Services reported net income of $120,000 and paid dividends of $30,000.;What is the balance in the investment account as of December 31, 2011?
Paper#75699 | Written in 18-Jul-2015Price : $27