On December Akron, Inc., purchased percent of
ZipCompanys common shares on the open market in exchange for
$ On December Akron, Inc., acquires an additional
percent of Zip Company's outstanding common stock for
$During the next two years, the following information is
available for Zip Company:At December Zip reports a net book value of $
Akron attributed any excess of its percent share of Zip's fair
over book value to its share of Zip's franchise agreements. The
franchise agreements had a remaining life of years at December
A Assume Akron applies the equity method to its Investment in
Zip account:B Assume Akron uses fairvalue accounting for its Investment in
Zip account:
