Meyer Jewelers purchased 3,000,000 of the outstanding 10,000,000 shares of Angel & Associates.Meyer has significant influence over Angel,so Meyer will account for this investment using the equity method.On the purchase date,Angel had net assets with a book value of $7,300,000 and a fair value of $8,000,000.The difference in fair value is a result of the higher fair value of equipment than it's book value.The remaining useful life of this equipment is 25 years.Assuming this investment was purchased on 1/1,which of the following is the correct journal entry to record the difference in net assets for this investment on 12/31?

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The Answer of Meyer Jewelers purchased 3,000,000 of the outstanding 10,000,000 shares of Angel & Associates.Meyer has significant influence over Angel,so Meyer will account for this investment using the equity method.On the purchase date,Angel had net assets with a book value of $7,300,000 and a fair value of $8,000,000.The difference in fair value is a result of the higher fair value of equipment than it's book value.The remaining useful life of this equipment is 25 years.Assuming this investment was purchased on 1/1,which of the following is the correct journal entry to record the difference in net assets for this investment on 12/31?

Meyer Jewelers Purchased 3,000,000 of the Outstanding 10,000,000 Shares of Angel