Maurice Tutor

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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 17 Jan 2018 My Price 6.00

Alison, Inc

On January 1, 2014, Alison, Inc., paid $76,800 for a 40 percent interest in Holister Corporation’s common stock. This investee had assets with a book value of $224,000 and liabilities of $104,000. A patent held by Holister having a $8,100 book value was actually worth $53,100. This patent had a six-year remaining life. Any further excess cost associated with this acquisition was attributed to goodwill. During 2014, Holister earned income of $38,000 and declared and paid dividends of $13,000. In 2015, it had income of $61,700 and dividends of $18,000. During 2015, the fair value of Allison’s investment in Holister had risen from $86,200 to $92,280.

 

a.

Assuming Alison uses the equity method, what balance should appear in the Investment in Holister account as of December 31, 2015?
b.

Assuming Alison uses fair-value accounting, what income from the investment in Holister should be reported for 2015?

 

Answers

Maurice Tutor
(5)
Status NEW Posted 17 Jan 2018 07:01 PM My Price 6.00

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