Tremont investment in the delany company account

Reference no: EM13685992

On July 1st 2013 Tremont corporation acquired 35% of the shares of Delaney company training paid three million eighty thousand dollars for the investment and the that amount is exactly equal to 35% of the fair value of identifiable net assets on Delaney's balance sheet Delaney recognized net income of 1 million 1000 for 2013 and paid 340,000 dividends to its shareholders the same net income and dividends evenly throughout the year after all closing entries are made Tremont investment in the Delany company account would have a balance of what

Reference no: EM13685992

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