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Business, 22.07.2019 21:30 lorreee

On july 1, 2018, tremen corporation acquired 45% of the shares of delany company. tremen paid $3,080,000 for the investment, and that amount is exactly equal to 45% of the book value of identifiable net assets on delany's balance sheet. delany recognized net income of $1,100,000 for 2018, and paid $180,000 of dividends each quarter to its shareholders. after all closing entries are made, tremen's "investment in delany company" account would have a balance of:

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On july 1, 2018, tremen corporation acquired 45% of the shares of delany company. tremen paid $3,080...

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