Business, 17.06.2021 22:50 lanaiheart7

On January 2, 2021 Crane 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 $1370000 and distributed dividends of $595000. The ending balance in the Investment in Crane Company account at December 31, 2021 was $1015000 after applying the equity method during 2021. What was the purchase price Crane Company paid for its investment in Jobs, Inc? a. $523750
b. $821250
c. $1506250
d. $1208750

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On January 2, 2021 Crane Company purchased 25% of the outstanding common stock of Jobs, Inc. and sub...

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