y purchased 40% of the voting Was assigned to goodwill. During2 s Corp. for $1,000,000. Any excess of cost over 018, Socks paid a total amount of dividends of $30,000 and reported net income What is the balance in the investment account on A) $1,052,000. of $100,000. December 31, 20187 ) $972,000. C) $1,070,000. cording to GA A) GAAP requires it to be used instead of the acquisition method for $1,028,000. AP, which of the following is true with respect to the pooling of interests method of accounting for business combinations? 6) Ac business combinations for which $50 bilion or more in consideration is transferred. combinations is the only method ever used prior to the acquisition method. B) The pooling of interests method of accounting for business C) Today, GAAP forbids the use of the pooling of interests method under any circumstances. D) GAAP allowed its use prior to 2002. C-2 DATE SCANTRON