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What amount should pomograte investment in sycamore

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Reference no: EM132931136

Problem 1: 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: EM132931136

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