Question 12 (of 23) 12. On January 1,2016, Nana Company paid $100,000 for 8,300

Question

Question 12 (of 23) 12. On January 1,2016, Nana Company paid $100,000 for 8,300 shares of Papa Company common stock. These searities were classified as trading securities. The ownership in Papa Company is 10%. Papa reported net Income of $58,000 for the year ended December 31, 2016. The fair value of the Papa stock on that date was $49 per share. What amount will be reported in the balance sheet of Nana Company for the investment in Pape at December 31, 2016? O $361700 O $331700 O $346700. O $406,700 MacBook Air esc F3 F4 F5 2

Explanation / Answer

Amount to be reported in the balance sheet of Nana Company =8300*49= 406700 Option 4 is correct

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