Pomograte Corporation bought 75% of Sycamore Company's common stock, with a book value of$900,000, on January 2, 2014 for $750,000. The law firm of Dewey, Cheatam and Howe was paid$55,000 to facilitate the purchase. At what amount should Pomograte's Investment in Sycamoreaccount be reported on January 2, 2014?

Answer rating: 100% (QA)

When Pomograte Corporation bought 75 of Sycamore Companys common stock for 750... View the full answer