Maurice Tutor

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About Maurice Tutor

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Algebra,Applied Sciences See all
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Teaching Since: May 2017
Last Sign in: 402 Weeks Ago, 6 Days Ago
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Education

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

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 31 Jul 2017 My Price 5.00

Dok Company

Dok Company acquired a 30 percent interest in Oak on January 1 for $2,000,000 cash. Assume the cost of the investment equals the fair value of Oak’s net assets. Dok assigned the $500,000 fair value over book value of the interest acquired to the following assets:
Inventories $100,000 (sold in the current year)
Building $200,000 (4-year remaining life at January 1)
Goodwill $200,000
During the year Oak reported net income of $800,000 and paid $200,000 dividends.
REQUIRED
1. Determine Dok’s income from Oak.
2. Determine the December 31 balance of the Investment in Oak account.

Answers

Maurice Tutor
(5)
Status NEW Posted 31 Jul 2017 07:07 PM My Price 5.00

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