Prepare schedule to show balance in investment account

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Reference no: EM13866154

On January 2, 201, Heinreich Co. paid $500,000 for 24% of the voting common stock of jones corp. At the time of investment, Jones had net assets with a book value of $1,800,000. During 20x1, Jones incurred a net loss of $60,000 and paid dividends of $100,000. Any excess cost over book value is attributing to goodwill with an indefinite life.

1) Prepare a schedule to show the amount of goodwill from Heinrich's investment in Jones.

2) Prepare a schedule to show the balance in Heinrich's investment account December 31, 20x1

Reference no: EM13866154

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Prepare schedule to show balance in investment account : On January 2, 201, Heinreich Co. paid $500,000 for 24% of the voting common stock of jones corp. At the time of investment, Jones had net assets with a book value of $1,800,000. Prepare a schedule to show the amount of goodwill from Heinrich's invest..

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