Answered step by step
Verified Expert Solution
Question
1 Approved Answer
In Janurary 200, Wilkerson Inc acquired 20% of the outstanding common stock of Bremm Inc, for 700,000.00. This investment gave Wilkerson the ability to exercise
In Janurary 200, Wilkerson Inc acquired 20% of the outstanding common stock of Bremm Inc, for 700,000.00. This investment gave Wilkerson the ability to exercise significent influence over Bremm. Bremm's assets on the date were recorded at 3,900.00 with liabilities of 900,000.00any excess of cost over book value of the investment was attribitued to patent having a remaining life of 10 years. In 2008 Bremm reported net income of 170,000.00in 2009. Bremm repoted a net income of 210,000.00. Dividends of 70,000.00 were paid each of these two years. What is the equity method balance of Wilkerson investment at Bremm, Inc at December 31, 2009
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started