Question

Seybert Systems accounts for its investment in Wang Engineering as available for sale. Seybert's balance in accumulated other comprehensive income with respect to the Wang investment is a credit balance of $30,000, and Seybert reports the investment at $150,000 on its balance sheet. Seybert purchased the Wang investment for (ignore taxes):

Answer 1

$120,000.00

Step-by-step explanation:

In this particular case since we are ignoring tax and There is a c credit balance. It simply means that the stock is increased in value by $30,000.So that the stock was purchased at $150,000-$30,000 = $120,000.00