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Accounting question
Pelican Corporation acquired a 30% interest in Crustacean Incorporated at book value several years ago. Crustacean declared and paid $100,000 dividends in 2010 and reported its income for the year as follows:
Income from continuing operations $700,000 Loss on discontinued division (100,000) Net income $600,000 Pelican'W s Investment in Crustacean account should increase by |
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