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please answer correctly! Required information On January 1, 202, Pint Corporation acquired 80 percent of Size Corporation for $200,000 cash. Size reported net income of
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Required information On January 1, 202, Pint Corporation acquired 80 percent of Size Corporation for $200,000 cash. Size reported net income of $25,000 each year and dividends of $5,000 each year for 202,203, and 204. On January 1,202. Size reported common stock outstanding of $160,000 and retained earnings of $40,000, and the fair value of the noncontrolling interest was $50,000. It held land with a book value of $90,000 and a market value of $100,000, and equipment with a book value of $40,000 and a market value of $48,000 at the date of combination. The remainder of the differental at acquisition was attributable to an increase in the value of patents, which had a remaining useful life of eight years. All depreciable assets held by Size at the date of acquisition had a remaining economic life of eight years. Pint uses the equity method in accounting for its investment in Size. ased on the preceding information, what balance would Pint report as its investment in Size at January 1,204 ? Multiple Choice $200.000 $224,000 $232.000 Multiple Choice $200,000 $224,000 $232,000 $240,000 Step by Step Solution
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