Business, 14.04.2020 15:55 bks53

Gioia Company acquired some of the 68,000 shares of outstanding common stock (no par) of Tristezza Corporation during the current year as a long-term investment. The annual accounting period for both companies ends December 31. The following transactions occurred during the current year: Jan. 10 Purchased 18,875 shares of Tristezza common stock at $14 per share. Dec. 31 a. Received the current year financial statements of Tristezza Corporation that reported net income of $84,000. b. Tristezza Corporation declared a cash dividend of $0.6 per share. c. Tristezza Corporation paid the cash dividend declared in (b). d. Determined the market price of Tristezza stock to be $13 per share.

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Gioia Company acquired some of the 68,000 shares of outstanding common stock (no par) of Tristezza C...

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