This Question: 1 pt 18 of 21 (0 complete) This Quiz: 25 pts possible CH $21,000

Question

This Question: 1 pt 18 of 21 (0 complete) This Quiz: 25 pts possible CH $21,000 or the ear At the Daniel Corp any purchased 30% of the outstanding shares of Clooney Corporation on January 1 at a cost of $610 000. Clooney Corporation reported net income c $98 and declared and aid total dividends end of the year, Clooney shares had a current fair value of $596,000. After all necessary adjusting entries are made for the year, the balance in Daniel Company's Equity-Method Investment account will be: OA. $633,100 OB. $673,000. O C. $596,000. O D. $687,000. Click to select your answer.

Explanation / Answer

Answer :-

(c) $5,96,000

Current Fair Value is $ 5,96,000. So ,Daniel Company’s Equity-Method Investment account is same as $5,96,000

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