On January 1, Marcums Landscape purchased 10,000 shares (35%) of the common stock of Atlantic Irrigation for

Question:

On January 1, Marcum€™s Landscape purchased 10,000 shares (35%) of the of Atlantic Irrigation for $ 600,000. Below are amounts reported by both companies for the year?

Required:
For Marcum€™s Landscape, record the initial purchase, its share of Atlantic€™s net income and dividends, and the adjustment for Atlantic€™s fair value at the end of the year, ifappropriate.

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...