jaallen3679
06.04.2021 •
Business
Assume Manav Corporation purchased 25 % of the outstanding common stock of Devon Inc. on January 1, 2020 for $1,000,000. At the date of acquisition of the stock, Devon's total net assets had a fair value of $3,500,000 and a book value of $3,100,000. The undervalued assets have a remaining useful life of 5 years. Assume Devon, Inc. earned $100,000 and paid $50,000 of dividends. All of the goodwill was related to a Patent that was worthless at the end of the year.
Required:
Compute the amount that would be reported for the investment on Manav Corporation's financial statements at December 31, 2021. Investment amount $236,000.
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Ответ:
It would depend on which Greg you are referring to.
If it’s Greg from Cabin Fever, he needed more money to buy gifts.
If it Greg from the Diary of a Wimpy Kid, he needed more money to buy food, more specifically cookies.