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What amount should pare report in its december

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Reference no: EM131105341

Pare, Inc. purchased 10% of Tot Co.'s 100,000 outstanding shares of common stock on January 2, 2010, for $50,000. On December 31, 2010, Pare purchased an additional 20,000 shares of Tot for $150,000. There was no goodwill as a result of either acquisition, and Tot had not issued any additional stock during 2010.

Tot reported earnings of $300,000 for 2010. Pare does not elect the fair value option to report its investment in Tot. What amount should Pare report in its December 31, 2010 balance sheet as investment in Tot?

Reference no: EM131105341

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