Business, 23.05.2020 23:02, JojoSiwa901
On January 1, 2012, Dawson, Incorporated, paid $100,000 for a 30% interest in Sacco Corporation. This investee had assets with a book value of $550,000 and liabilities of $300,000. A patent held by Sacco having a book value of $10,000 was actually worth $40,000 with a six-year remaining life. Any goodwill associated with this acquisition is considered to have an indefinite life. During 2012, Sacco reported income of $50,000 and paid dividends of $20,000 while in 2013 it reported income of $75,000 and dividends of $30,000. Assume Dawson has the ability to significantly influence the operations of Sacco. The amount allocated to goodwill at January 1, 2012, is:a) $25.00 b) $13.00 c) $9.00 d) $16.00 e) $10.00
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On January 1, 2012, Dawson, Incorporated, paid $100,000 for a 30% interest in Sacco Corporation. Thi...
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