Acct559 (Advance Accounting)

1788 words 8 pages
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|1. (TCO A) Alpha Co. owns a 30% interest in Bravo Co. and exercises significant influence. Which of the following results in a |
|decrease in the investment account when applying the equity method? (Points : 5) |
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| [pic] Net income earned by the investor
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(TCO D) Echo Co. purchased for $630,000 a 90% controlling interest in Fox Co., while the non-controlling interest (NCI) |
|purchased for $70,000 the remaining 10%. If the fair value of Fox Co. is $600,000, what is the amount of goodwill allocated to |
|the NCI? (Points : 5) |
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