Business, 19.09.2019 00:10 aliviafrancois2000

On january 3, 2018, matteson corporation acquired 30 percent of the outstanding common stock of o’toole company for $1,454,000. this acquisition gave matteson the ability to exercise significant influence over the investee. the book value of the acquired shares was $848,000. any excess cost over the underlying book value was assigned to a copyright that was undervalued on its balance sheet. this copyright has a remaining useful life of 10 years. for the year ended december 31, 2018, o’toole reported net income of $337,000 and declared cash dividends of $30,000. at december 31, 2018, what should matteson report as its investment in o’toole under the equity method

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On january 3, 2018, matteson corporation acquired 30 percent of the outstanding common stock of o’to...