Question of
Current Attempt in Progress
Bramble Inc. purchased of Nadal Corporation's outstanding common shares at a cost of $ per share on January
The purchase price of $ per share was based solely on the book value of Nadal's net assets. On September Nadal declared and
paid a cash dividend of $ On December Bramble's year end, Nadal reported net income of $ for the year. Nadal
shares had a fair value of $ per share at December Bramble, a private Canadian corporation, applies ASPE.
a
Under the assumption that the holding of Nadal does not give Bramble significant influence over Nadal, identify the possible
accounting methods Bramble could use under ASPE to account for its investment. Prepare all required journal entries under
each acceptable method. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no
entry is required, select No Entry" for the account titles and enter for the amounts. Record entries in the order displayed in the problem
statement. List all debit entries before credit entries. Round answers to decimal places, eg
