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Gowdy Company has the following long-term investments 1 Ordinary shares of Dixen Co. (10% ownership) held as available-for-sale securities cost $108000 fair value $115000 Ordinary shares

Gowdy Company has the following long-term investments: (1) Ordinary shares of Dixen Co. (10% ownership) held as available-for-sale securities; cost $108,000, fair value $115,000. (2) Ordinary shares of Ely Ltd, (30% ownership), cost $210,000, equity $270,000. Prepare the investments section of the statement of financial position.View Solution:

Jun 16 2020 View more View Less

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