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What is the book value of Johnston investment

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Question - In January 1, Year 1, Johnston Company purchased a 40% interest in the common stock of Truly Inc. for $100,000. Johnston has significant influence but not control. On December 10, Year 1, Truly declared and paid dividends of $20,000. Truly reported net income of $50,000 for Year 1. What is the book value of Johnston's investment in Truly at the end of Year 1?

Reference no: EM132848904

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