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?

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Definitions:

Visual-spatial Intelligence

The ability to accurately perceive the visual world, transform and modify perceptions, and recreate aspects of visual experience even in the absence of physical stimuli.

Design

The process of envisioning and planning the creation of objects, systems, or interactions with a focus on aesthetics, functionality, and user experience.

Leadership Style

The manner and approach of providing direction, implementing plans, and motivating people adopted by a leader.

Qualities of Leaders

char--acteristics or attributes that are desirable in individuals who inspire, guide, and influence others towards achieving common goals.