Question

Cullumber Corporation has these long-term investments: common stock of Vejas Co. (10% ownership), cost $116,090, fair value $110,090; common stock of Penn Inc. (30% ownership), cost $222,300, equity $212,890; and debt investment, cost $96,430, fair value, $163,100. Prepare the investments section of the balance sheet.

Answer 1

Answer and Explanation:

Partial Balance sheet

Investments

Stock investments (At fair value) $110,090

Debt investments (at fair value) $163,100

Stock investments (At equity) not given: $0

Total investment) $276190