Multiple Choice
Pone Company purchased 100 percent of Sone Inc.on January 1,20X9 for $625,000.Sone reported earnings of $76,000 and declared dividends of $8,000 during 20X9.
-Based on the preceding information and assuming Pone carries its investment in Sone at cost,what is the balance in Pone's Investment in Sone account on December 31,20X9,prior to consolidation?
A) $617,000
B) $625,000
C) $633,000
D) $693,000
Correct Answer:
Verified
Correct Answer:
Verified
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