Charlie Co

question 27

Essay

Charlie Co. owns 30% of the voting common stock of Turf Services Inc. Charlie uses the equity method to account for its investment. On January 1, 2013, the balance in the investment account was $624,000. During 2013, Turf Services reported net income of $120,000 and paid dividends of $30,000.
What is the balance in the investment account as of December 31, 2013?

---

Definitions:

Miranda Warnings

Statements that police must provide to a suspect in custody before interrogation, informing them of their rights to remain silent and to have an attorney.

In-Custody Questioning

A law enforcement procedure where individuals under arrest are questioned about a crime.

Police

The police are a body of officers representing the civil authority of government, responsible for maintaining public order and safety, enforcing the law, and preventing, detecting, and investigating criminal activities.

Miranda Rule

This rule requires police to inform suspects of their rights before questioning, including the right to remain silent and the right to an attorney.