Record the journal entries under the fair value option

Reference no: EM132829641

CBA Corporation has a 35% equity investment in FED, Inc. that was purchased on 1/1/15 for $600,000. FED had 140,000 in net income for 2015 and paid total dividends of 7,000. On 12/31/15, the fair market value of this investment is $650,000. Assume that CBA Corporation elects the fair value option.

Problem 1: Record the journal entries under the fair value option

Reference no: EM132829641

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