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Business, 08.07.2019 16:20 kimberlynassar1962

On january 1, puckett company paid $1.6 million for 50,000 shares of harrison's voting common stock, which represents a 40 percent investment. no allocation to goodwill or other specific account was made. significant influence over harrison is achieved by this acquisition and so puckett applies the equity method. harrison distributed a dividend of $2 per share during the year and reported net income of $560,000. what is the balance in the investment in harrison account found in puckett's financial records as of december 31?

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On january 1, puckett company paid $1.6 million for 50,000 shares of harrison's voting common stock,...
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