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At what amount should pomograte investment

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Reference no: EM133007699

Question - Pomograte Corporation bought 75% of Sycamore Company's common stock, with a book value of $900,000, on January 2, 2014 for $750,000. The law firm of Dewey, Cheatam and Howe was paid $55,000 to facilitate the purchase. At what amount should Pomograte's Investment in Sycamore account be reported on January 2, 2014?

A. $675,000

B. $695,000

C. $750,000

D. $845,000

Reference no: EM133007699

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