Business
Business, 04.04.2020 02:28, nathang444

On January 2, 2021 Sunland Company purchased 30% of the outstanding common stock of Jobs, Inc. and subsequently used the equity method to account for the investment. During 2021 Jobs, Inc. reported net income of $1200000 and distributed dividends of $510000. The ending balance in the Investment in Sunland Company account at December 31, 2021 was $930000 after applying the equity method during 2021. What was the purchase price Sunland Company paid for its investment in Jobs, Inc?

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On January 2, 2021 Sunland Company purchased 30% of the outstanding common stock of Jobs, Inc. and s...

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