ACC 306 WEEK 1 DQ 1 EQUITY METHOD ASH COURSE Essay

ACC 306 WEEK 1 DQ 1 EQUITY METHOD ASH COURSE
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ACC 306 WEEK 1 DQ 1 EQUITY METHOD ASH COURSE
P 12–13 – Miller Properties – Equity method ? LO5 LO6
On January 2, 2011, Miller Properties paid $19 million for 1 million shares of Marlon Company’s 6 million outstanding common shares. Miller’s CEO became a member of Marlon’s board of directors during the first quarter of 2011.
The carrying amount of Marlon’s net assets was million.

Miller estimated the fair value of those net as- sets to be the same except for a patent valued at $24 million above cost. The remaining amortization period for the patent is 10 years.
Marlon reported earnings of $12 million and paid dividends of $6 million during 2011. On December 31, 2011, Marlon’s common stock was trading on the NYSE at $18.50 per share.
Required:
1. When considering whether to account for its investment in Marlon under the equity method, what criteria should Miller’s management apply2.

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Assume Miller accounts for its investment in Marlon using the equity method. Ignoring income taxes, deter- mine the amounts related to the investment to be reported in its 2011:
a. Income statement.ACC 306 WEEK 1 DQ 1 EQUITY METHOD ASH COURSEb. Balance sheet.
c. Statement of cash flows.
Home Work Hour aims to provide quality study notes and tutorials to the students of ACC 306 Week 1 DQ 1 Equity Method Ash Course in order to ace their studies.ACC 306 WEEK 1 DQ 1 EQUITY METHOD ASH COURSE
To purchase this visit here:
http://www.nerdypupil.com/product/acc-306-week-1-dq-1-equity-method-ash-course/
Contact us at:
[email protected]
ACC 306 WEEK 1 DQ 1 EQUITY METHOD ASH COURSE
P 12–13 – Miller Properties – Equity method ? LO5 LO6
On January 2, 2011, Miller Properties paid $19 million for 1 million shares of Marlon Company’s 6 million outstanding common shares….

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