Use the Following Information to Answer the Question(s)below

question 37

Multiple Choice

Use the following information to answer the question(s) below.
On January 1,2011,Pansy Company acquired a 10% interest in Sunflower Corporation for $80,000 when Sunflower's stockholders' equity consisted of $400,000 capital stock and $100,000 retained earnings.Book values of Sunflower's net assets equaled their fair values on this date.Sunflower's net income and dividends for 2011 through 2013 were as follows:

-Assume that Pansy Incorporated used the cost method of accounting for its investment in Sunflower.The balance in the Investment in Sunflower account at December 31,2013 was

• A)$76,700.
• B)$80,000.
• C)$83,300.
• D)$95,000.

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Definitions:

Political Debate

A formal discussion where representatives of different views or parties discuss subjects of political nature, aiming to express and challenge each other’s viewpoints.

Welfare

Government-provided support for those unable to support themselves, including financial aid, healthcare, and social services.

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A prison located in Abu Ghraib, Iraq, which gained international notoriety for human rights abuses and torture of detainees by U.S. military personnel during the Iraq War.

Civilized Behavior

Conduct considered socially appropriate and reflective of societal norms and values, often used historically to justify colonial and cultural dominance.