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On January 1, 2018, Morey, Inc., exchanged $180,575 for 25 percent of Amsterdam Corporation. Morey approprlately applled the quity method to this Investment. At January

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On January 1, 2018, Morey, Inc., exchanged $180,575 for 25 percent of Amsterdam Corporation. Morey approprlately applled the quity method to this Investment. At January 1, the book values of Amsterdam's assets and liablilitles approximated their fair values On June 30, 2018, Morey pald $605,500 for an additional 70 percent of Amsterdam, thus Increasing Its overall ownershlp to 95 bercent. The price pald for the 70 percent acquisition was proportionate to Amsterdam's total falr value. At June 30, the carrying amounts of Amsterdam's assets and liabilities approximated their fair values. Any remaining excess falr value was attributed to goodwill Amsterdam reports the following amounts at December 31, 2018 (credit balances shown In parentheses): (291,eee) Revenues Expenses Retained earnings, January 1 186,00e (237,30e) 10,eee Dividends declared, October 1 Common stock (500,e00) Amsterdam's revenue and expenses were distributed evenly throughout the year and no changes In Amsterdam's stock have occurred a. Using the acquisition method, calculate the acquisition-date falr value of Amsterdam to be Included In Morey's June 30 consolidated financial statements. b. Uslng the acquisition method, calculate the revaluation galn (or loss) reported by Morey for Its 25 percent Investment In Amsterdam on June 30. c. Using the acquisition method, calculate the amount of goodwill recognized by Morey on its December 31 balance sheet (assume no Impairments have been recognized) d. Using the acquisition method, calculate the noncontrolling interest amount reported by Morey on Its June 30 and December 31 consolidated balance sheet

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