Question
On January 1, 2022, Matsui Co. purchased 36% of the outstanding voting common stock of Yankee, Inc. for $300,300. The book value of the acquired
On January 1, 2022, Matsui Co. purchased 36% of the outstanding voting common stock of Yankee, Inc. for $300,300. The book value of the acquired shares was $275,500. The excess of cost over book value is attributable to an intangible asset on Yankee's books that was undervalued and had a remaining useful life of five years. For the year ended December 31, 2022, Yankee reported net income of $125,200 and paid cash dividends of $25,100. What is the carrying value of Matsui's investment in Yankee at December 31, 2022?
$291,264.
$331,376.
$336,336.
$300,300.
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