Balance in the investment account

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Reference no: EM13916795

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, 200X, the balance in the investment account was $624,000. During 200X, Turf Services reported net income of $120,000 and paid dividends of $30,000.

Required: What is the balance in the investment account as of December 31, 2009?

Reference no: EM13916795

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