Noncontrolling investment accounting (price different from book value) On January 1,2022, an...
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Accounting
Noncontrolling investment accounting price different from book value
On January an investor purchases for $ a ownership in an investee. The investees common stock has a readily determinable fair value. On January the book value of the investees assets and liabilities equals $ and $ respectively. On that date, the appraised fair values of the investees identifiable net assets approximated the recorded book values, except for a patent. On January the patent had a recorded book value of $ an estimated fair value equal to $ and a year remaining useful life. During the year ended December the investee company reported net income equal to $ and dividends equal to $ On December the fair value of the investors share of the investee is $
Assume the investor cannot exert significant influence over the investee. Determine the balance in the Investment in Investee account at December
Select one:
a
$
b
$
c
$
d
$
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