On January 1, B company paid $2,295,000 to acquire 90,000 shares of O company's voting common stock, which represents a 30 percent investment. No allocations to
goodwill or other specific accounts were made. Significant influence over O company is achieved by this acquisition, and so B company applies the equity method. O company
declared a $1 per share dividend during the year and reported net income of $750,000. What is the balance in the Investment in O company account found in B company's
financial records as of December 31?
Your answer:
When should a consolidated entity recognize a goodwill impairment loss?
Your answer:
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