On january 2 2006 pagan corporation acquired 40 of the

Reference no: EM13610091

On January 2, 2006, Pagan Corporation acquired 40% of the outstanding common stock of Sancto Company for $1,000,000. On that date, the current fair value of Sancto's identifiable net assets was $2,000,000, and Pagan did not attribute the excess of the cost of its investment in Sancto over its equity in Sancto's identifiable net assets to any one factor. Sancto's 2006 net income was $250,000. Pagan planned to increase its investment in Sancto to a controlling interest, and Pagan accounted for its investment in Sancto under the equity method of accounting. The maximum amount that may be included in Pagan's 2006 income before income taxes to reflect investment income from Sancto?

Reference no: EM13610091

Questions Cloud

Each molecule can be viewed as a cylinder of initial length : molecules that are of density row180 kgm3 and spe- cific heat cp 3000 jkg k have an initial relaxed length of l2nm.

Included in the identifiable net assets of sapphire company : included in the identifiable net assets of sapphire company on the date of its business combination with palumbo

A simple random sample of 120 sat scores has a mean of 1540 : a simple random sample of 120 sat scores has a mean of 1540. assume that sat scores have a population standard

In a medical x-ray tube electrons are accelerated to a : in a medical x-ray tube electrons are accelerated to a velocity of 108 ms and then slammed into a tungsten target. as

On january 2 2006 pagan corporation acquired 40 of the : on january 2 2006 pagan corporation acquired 40 of the outstanding common stock of sancto company for 1000000. on that

On december 1 2006 passey corporation sold a machine with a : on december 1 2006 passey corporation sold a machine with a carrying amount of 150000 to its 80-owned subsidiary scully

A researcher uses a repeated-measures design to compare : a researcher uses a repeated-measures design to compare individuals performance before treatment with their performance

A pair of parallel plates produces a uniform electric field : a pair of parallel plates produces a uniform electric field of 900vm. if an electron is released at rest from the

A car moving initially at 50mih begins decelerating at a : a car moving initially at 50mih begins decelerating at a constant rate 100ft. short of a stoplight. a. if the car comes

User Account

All Pages