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please help SUNY Co. aceuired 100% of the common stock of Albany Co. on January 1, 2010 for $600,000 (cash). As of that date, Albany
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SUNY Co. aceuired 100% of the common stock of Albany Co. on January 1, 2010 for $600,000 (cash). As of that date, Albany Co. had the folloring trial balance. As of Jan. 1, 2010, the fair values of Albany?s Buildings and Land are $190,000 and $112,000, respectively, Also on this date, Albany' s has a patent with a fair value of $72,000 and 10 * years remaining useful life. This patent has zero book value. There is no allocation to roodrili. Durine 3010, Albany reported net incoge of $100,000 while paying dividends of $10,000. Stir Co. decided to use the equity method for this investment Step by Step Solution
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