Compute balance in stock investment account of james corp

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Reference no: EM131335292

James (investor) Corporation acquires 25% of the common shares of Heck (investee) Company for $350,000 on January 1, 2014. For 2014, Heck reports net income of $50,000 and paid dividends of $16,000.

Instructions

(a) Prepare the entries for these transactions that James Corporation would make in the space provided below.

(b) Compute the balance in the stock investment account of James Corporation.

Reference no: EM131335292

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