Question
On January 1, 2008, Jumper Co. acquired all of the common stock of Cable Corp. for $832,000. Annual amortization associated with the purchase amounted to
On January 1, 2008, Jumper Co. acquired all of the common stock of Cable Corp. for $832,000. Annual amortization associated with the purchase amounted to $10,300. During 2008, Cable earned net income of $74,500 and paid dividends of $18,400. Cable's net income and dividends for 2009 were $83,100 and $12,900, respectively, and for 2010 were $103,100 and $28,200, respectively. Required: A) Assuming that Jumper decided to use the partial equity method, prepare a schedule to show the balance in the investment account at the end of 2010.
B) Determine entry *C for the consolidation at December 31, 2010
Please show all work
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