Point co purchased 90 of sharpe corps voting stock on

Reference no: EM13581434

Point Co. purchased 90% of Sharpe Corp.'s voting stock on January 1, 20X2 for $5,580,000. Prior to the acquisition, Point held a 10% equity position in Sharpe Company. On January 1, 20X2 Point's 10% investment in Sharpe has a book value of $340,000 and a fair value of $620,000.

Reference no: EM13581434

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