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on january 1, 2024, green corporation purchased 36% of the outstanding voting common stock of gold company for $300,450. the book value of the acquired shares was $275,600. the excess of cost over book value is attributable to an intangible asset on gold's books that was undervalued and had a remaining useful life of five years. for the year ended december 31, 2024, gold reported net income of $125,050 and paid cash dividends of $25,850. what is the carrying value of green's investment in gold at december 31, 2024?

Respuesta :

The investment's carrying value at December 31, 2021, according to the document, is $331,192.

What is a company's straightforward definition?

A company is an organizational body created by a group of people to conduct and manage a business venture, whether it be commercial or industrial. Dependent on the corporate legislation of its country, a corporation may be set up in a variety of fashions for taxes and financial responsibility reasons.

Briefing:

Amount paid for investment = $ 300,450

Add: Share of net income = $ 45,018 = 125,050*36%  

Less: Dividends received = - $ 9,306 = 25,850*36%

Less: Amortization of intangibles = -$ 4970 = (275,600-300,450)/5

Carrying value investment at December 31, 2021 = $ 331,192

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