_____ On 9/30/06, Pittco acquired 75% of Stoneco's outstanding common stock for $600,000 cash. For 2006, Stoneco reported the following items:
In addition, Pittco recorded amortization of cost in excess of book value in its general ledger for 2006 of $20,000. Assume non-push-down accounting is used. Under the equity method, what is the carrying value of the Investment account at 12/31/06?
A) $605,000
B) $610,000
C) $620,000
D) $630,000
E) $745,000
Correct Answer:
Verified
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Q48: _ On 7/1/06, Pane acquired 60% of
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Q54: _ On 1/1/06, Platt acquired 75% of
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