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On January 1, 2018, Green Corporation purchased 20 % of the outstanding voting common stock of Gold Company for $300,000. The book value of the
On January 1, 2018, Green Corporation purchased 20 % of the outstanding voting common stock of Gold Company for $300,000. The book value of the acquired shares was $275.000. Th excess of cost over book value is attributable to an Intanglble asset on Golds books that was undervalued and had a remaining useful life of five years. For the year ended December 31, 2018, Gold reported net income of $125,000 and paid cash divdends of $25,000 What is the carrying value of Green's investment in Gold at December 31, 2018? Multiple Choice $296.000 $300,000 $315.000 $320000
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