All questions please. Advanced accounting. Need this for upcoming test.

If a company uses the equity method to record an investment in common stock, how is the Equity Investment account affected after the date of acquisition? If a company owns 20-50% of outstanding stock of a company, what method is used and are there any exceptions? o What is the relationship between the Equity Investment account and the investee's stockholder's equity? What if the acquisition was made at a PP above book value due to an undervalued patent? o What if there is a change in FV of the investment? What is the difference between a basket purchase of net assets and an acquisition of net assets that qualifies as a business? If an investor sells inventory to an investee of which the investor owns 30% and there is a profit of $50, with 40% remaining at the end of the year. What equity method entry is required? Know what constitutes control Acquisition related costs and stock issuance costs GAAP approaches to assigning values to assets in a business combination Acquisition method accounting for business combinations Calculate balance in equity investment account o 30% interest for $300,000, net income $100,000. All BV=FV except for building FV>BV $15,000 with 5 year remaining life. What is income for year? Be able to calculate consolidate amounts for balance sheet items o Unrecorded assets, goodwill Patrick Company issues 10,000 shares of $5 par value common stock with a fair value of $12/share for all of Sam Company's stock. On the acquisition date, Sam's equity is as follows: Common stock Retained earnings 40,000 60,000 Book values for net assets equal fair value except for the following: PP&E book value = $50,000, fair value = $70,000 Prepare all entries