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On January 2, 2018, All Good Company purchased 6,000 shares of the stock of Big Bad Company, and DID obtain significant influence. The investment is intended as a long-term investment. The stock was purchased for $13 per share, and represents a 30% ownership stake. Big Bad Company made $600,000 of net income in 2018, and paid dividends to All Good Company of $20,000 on December 15, 2018. Big Bad Company's stock was trading on the open market for $21 per share at the end of the year.
Question 1: Use this information to determine the book value of the investment that should be reported at year end by All Good Company. Round to nearest whole dollar.
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This individual assignment is based on the TerraCycle Inc.
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A new plant accountant suggested that the company may be able to assign support costs to products more accurately by using an activity based costing system that relies on a separate rate for each manufacturing activity that causes support costs.
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