On January 1, 2017, the Express Corporation Purchased 30% of the Common

question 89

Multiple Choice

On January 1, 2017, the Express Corporation purchased 30% of the common stock outstanding of the Bangor Corporation for $300,000. During 2017, the Bangor Corporation reported net income of $120,000 and paid cash dividends of $30,000. The balance of the Stock Investments-Bangor account on the books of Express Corporation at December 31, 2017, is

• A) $300,000.
• B) $330,000.
• C) $420,000.
• D) $327,000.

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Components and accessories used in the manufacturing and maintenance of vehicles.

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