ABC Company uses the equity method to account for its 40% interest in the voting stock of XYZ Company ABC paid $5,000,000 for the investment at the beginning of the current year, and XYZ's total book values at the time was $6,000,000. The discrepancy between acuities cost and share of book value acquired was attributed to goodwill. XYZ reported income of $6000,000 and paid dividends of $200,000 during the year ABS will report its investment in XYZ on its end of Year balance sheet at what account? $4, 920,000 $5, 240,000 $5,000,000 $5, 160,000 Under current standard, when is an impairment loss reported on a significant influxes investment in the stock of another company, following U.S. GAAP and IFRS? Fizzy cola acquired 35% of the voting stock of national Bottlers on January 1, 2017, at a cost of $50,000,000 an account equal to 35% of National Book value, Fizzy reports its investment using the equality method in 2017. National reported net income of$7,000,000 and declared and paid dividends of $2,000,000 national sells product to Fizzy at a mark up of 25% on cost. Fizzy had $6,000,000 of product purchased from National in its ending inventory, measured at cost to Fizzy. What is Fizzy's investment in National balanced reported on its December 31, 2017 balance sheet? $50,000,000 $51, 330,000 $52, 030,000 $51, 750,000 Fizzy Cola acquires Juices Ltd for $25,000,000 in cash, and accounts for its investment as a merger. Juice's balance sheet at the date of acquisitions is as follows The Fair value of Juice's current is $75,000 less than book value. The fair value of its property is $1, 500,000 less than book value. The book value of its liabilities approximate fair value. There are no unreported assets or liabilities. How much good will does Fizzy report for this acquisition? $19, 475,000 $22, 325,000 $22, 475,000 $25, 475,000