Business, 13.08.2021 02:50 tyarber96

On January 1, 2021 Pod Company purchased 25% 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 $1,260,000 and distributed dividends of $540,000. The ending balance in the Investment in Pod Company account at December 31, 2021 was $960,000 after applying the equity method during 2021. Required:
What was the purchase price Crane Company paid for its investment in Jobs, Inc?

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On January 1, 2021 Pod Company purchased 25% of the outstanding common stock of Jobs, Inc. and subse...

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