On January 2, Pam Corporation purchased a 30 percent interest in Sun Corporation for $240,000. On...

 

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On January 2, Pam Corporation purchased a 30 percent interest in Sun Corporation for $240,000. On this date, the book value of Sun's stockholders equity was $500,000. The carrying amounts of Sun's identifiable net assets equals their fair values, except for a patent whose fair value exceeded its carrying amount by $300,000 (remaining life 10 years). Sun reported net income of $100,000 and paid $60,000 dividends during the year.The fair value of Pam's investment in Sun, as determined by market prices, was $235,000. Pam this investment using the equity method. In its December 31 balance sheet that amount should Pam report for this investment? mohd Ar in This video was made v On January 2, Pam Corporation purchased a 30 percent interest in Sun Corporation for $240,000. On this date, the book value of Sun's stockholders equity was $500,000. The carrying amounts of Sun's identifiable net assets equals their fair values, except for a patent whose fair value exceeded its carrying amount by $300,000 (remaining life 10 years). Sun reported net income of $100,000 and paid $60,000 dividends during the year.The fair value of Pam's investment in Sun, as determined by market prices, was $235,000. Pam this investment using the equity method. In its December 31 balance sheet that amount should Pam report for this investment? mohd Ar in This video was made v

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