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Find the value of remaining investment

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Question: Assume that on December 31, 2014, HassenCo's Investment in Sultan account has a balance of $510,000. Also, assume that Hassen's 80% interest in Salt has a fair value of $750,000. On January 1, 2015, Hassen sells half (remaining 40%) of Sultan's shares for $200,000.

Required: Find the value of remaining investment and the gain on sale for Hassen Co. (Show your calculation)

Prepare the appropriate journal entry of the sale gain and deduction of the investment for Hassen Co

Reference no: EM131752669

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