Menu
support@graduatecourseshelp.com
+1(805) 568 7317

pod reported net income of 100 000 for 2006 and paid no dividends kean accounts for 605476

On January 2, 2006, Kean Co. purchased a 30% interest in Pod Co. for $250,000. On this date, Pod’s stockholders’ equity was $500,000. The carrying amounts of Pod’s identifiable net assets approximated their fair values, except for land whose fair value exceeded its carrying amount by $200,000. Pod reported net income of $100,000 for 2006, and paid no dividends. Kean accounts for this investment using the equity method. In its December 31, 2006 balance sheet, what amount should Kean report as investment in subsidiary?

  1. $210,000
  2. $220,000
  3. $270,000
  4. $280,000

"Order a similar paper and get 15% discount on your first order with us
Use the following coupon
"GET15"

Order Now