What gain or loss on disposal of investment in joyce inc

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Question 1: On January 1, 2020, Joyce Inc. acquired 30% of Anne Inc.'s common shares for $ 320,000. During 2020, Anne Inc. reported net income of $ 100,000 and paid total dividends of $ 60,000. Joyce Inc.'s 30% interest in Anne Inc. gives Joyce Inc. the ability to exercise significant influence over their operating and financial policies. During 2021, Anne Inc. reported net income of $ 150,000 and paid total dividends of $ 30,000 on April 1 and $ 40,000 on October 1. On July 1, 2021, Joyce Inc. sold half of its shares in Anne Inc. for $ 195,000 cash. The gain/loss on disposal of this investment in Joyce Inc.'s 2021, income statement should be

Reference no: EM132604029

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